tax tips: Tax Benefits of Hiring Your Kids
- 09/24/08 06:18 AM
As a follow-up to my previous post, I want to give some details on how you can save big money by hiring your kids to help you in your business. If you are an agent filing as a sole proprietor, in a partnership with your spouse as the only other partner, or a single-member LLC filing Schedule C, any wages you pay your children to help in your business are: Not subject to Social Security and Medicare taxes until age 18 Not subject to Federal Unemployment tax until age 21 Possibly not subject to State Unemployment Tax or Workers' Compensation, depending on the … (26 comments)
tax tips: Newbie CPA looking for helpful blog ideas
- 09/11/08 04:32 PM
Well, I finally decided to start my blog tonight. I am a CPA who works with real estate agents. I feel kind of funny even saying that, as if everyone's natural assumption will be that I am just here to pick up new clients. But I really enjoy reading other people's blogs and find AR is a really unique site. Agents are much more interesting than other CPA's! (But don't tell anyone that I said that.) My interest in real estate started when my parents, brothers and sister started an ERA franchise in Austin, TX back in the 90's. I handle all their accounting and tax needs from … (16 comments)
As a follow-up to my previous post, I want to give some details on how you can save big money by hiring your kids to help you in your business.;)
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