as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
will my wife's business losses offset my income on a joint tax return?
user
first, filing status. if you and your wife are legally married, you should be filing your tax returns as married, either jointly or separately. in the us, "head of household" has a specific meaning and is for unmarried people who are supporting one or more relatives, per the irs. if you are working full-time and your wife is not, then likely you will file a joint return, including all your income and all the expenses for your wife's business. so yes, the losses in her business will offset your income. depending on how complex things are, you may want to hire a professional to help with your taxes. the rules for what can and cannot be deducted as a business expense can be opaque.
assistant