I know tax questions get asked a lot, but I can't find an answer to this one. If it's been answered and someone can direct me to a thread, then awesome! But in case, I'll ask again.
I keep seeing 30% as the amount I'll have to pay in taxes. I get that and I can figure that out. BUT I'm married and have children. My husband has a steady, salaried job with benefits, plus self-employment income/expenses. We have 3 children we claim as dependents (mine plus our two - his lives with her mom). So, dependents will reduce the total taxes I'd owe? Or...? We have usually ended up getting a tax refund at tax time with just his income - I'm wondering if my dancing income will just reduce or eliminate the refund and I won't have to pay?
It's so confusing to me. When I was younger and danced I honestly probably didn't file as accurately as I should have, but I want everything to be by the book now, and I'm kind of lost. We have a good accountant who does our taxes who I'm sure will figure this out for us by April 15, but I'm trying to keep on top of things now. I've gathered I don't have to do quarterlies this year, and since I just started dancing again a few weeks ago, I would only really need it for the last quarter anyway.
Any help is greatly appreciated. TIA!



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