Does she still get all the normal FICA taxes taken out, do I set it up exactly

Dec 28, 2024
10:47:41am

kosmokramer All-American

Like every other employee, or is there anything you do different because she's my daughter. I'm assuming this doesn't affect my ability to get the child tax credit or anything else on my taxes?

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kosmokramer

Bio page: kosmokramer
Joined: Jan 3, 2013
Last login: Dec 31, 2024
Total posts: 1,774 (0 FO)

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Messages

Author

Time

What are the rules for paying your child through your business?

kosmokramer

Dec 28, 10:25am

If she does work for the business, pay her through the business.

TwinsRight

Dec 28, 10:27am

And she pays taxes on that money at her lower tax rate instead of your high rate

justAnotherCoug

Dec 28, 11:38am

Yes, great tax savings opportunity.

Royal_Minister

Dec 28, 10:27am

If you have an s corp, create a family llc. Pay the llc, then pay her

diluigifan

Dec 28, 10:37am

Find legitimate duties for her to do at your business. You have to pay her

kotacoug

Dec 28, 10:37am

Does she still get all the normal FICA taxes taken out, do I set it up exactly

kosmokramer

Dec 28, 10:47am

Here is a good article on it….

kotacoug

Dec 28, 1:54pm

If you an s corp, you will have to pay payroll taxes. If you are an llc, she

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