We recently got married and I'm thinking ahead, just because I want to be prepared. :-)
We both work FT jobs, but I also have a side company creating web applications. It's a single member LLC that gets passed through to my 1040 (pretty simple I would assume). With that said, I'm wondering if it's worth the "risk" of filing as "Married Filing Jointly." I understand if there's an audit, we would be both at risked. While I don't like to think about it, I would still like to shield my wife and family from such things if it were to happen.
On the flip side, if we go the other route, we lose out on some important deduction like child credit and what not. Anyone here in the same boat who can attest to either or?