Here is a good article on it….

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Dec 28, 2024
1:54:26pm

kotacoug All-American

Here is a good article on it….

Oberlanderandco

Hiring Your Kids to Work for You Can Result in Significant Tax Savings.

Do you have your teenage kids helping you at the office? If so, you might want to consider putting them on payroll and save on taxes

https://www.oberlanderandco.com/insights/kids-on-payroll

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kotacoug

Bio page: kotacoug
Joined: Jul 20, 2002
Last login: Dec 31, 2024
Total posts: 82,698 (4,784 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.

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

diluigifan

Dec 28, 5:54pm

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