Posts Tagged ‘Tax Benefits’
Hiring Your Child in Your Family Business: Tax Benefits and Compliance Tips
Hiring your child in your family business can be a rewarding way to teach them responsibility while also providing substantial tax benefits for both you and your child. By paying them a salary, you can deduct it as a business expense, effectively reducing your taxable income. Meanwhile, your child can earn up to the…
Read MoreFocusing on Employee Health Could Net Organizations Tax Benefits
Employers who provide paid family and medical leave to employees may qualify for a business tax credit through 2019 As the U.S. unemployment rate has seen record lows this year (3.7 percent in August), companies are scrambling to update their recruitment processes and benefits packages to stay competitive in the battle for talent acquisition. As…
Read MoreThe Tax Benefits of Putting Your Kids on Your Payroll
The family that works together, saves money together What are your kids doing this summer? While they may just plan on relaxing or having fun with school out, it might be good for them – and you – if you put them to work. Not a lot of business owners know this, but they can…
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