Discover how having kids can actually save you money on your taxes! Learn about the Child Tax Credit and Credit for Other Dependents, including eligibility, amounts, and how to claim them. Maximize your tax refund and minimize your tax burden with this helpful guide.
Discover the tax advantages of hiring your spouse! Learn how to save on taxes through deductions, QBI, Social Security, health insurance, and retirement contributions. Plus, explore the potential challenges and benefits of working with your spouse.
A simplified explanation of self-employment taxes, covering what they are, how they’re calculated, and payment tips.
Fringe benefits for S-Corp owners can be a tax minefield! Learn how to navigate the complex rules and regulations surrounding fringe benefits for S-Corp owners and employees. Discover which benefits are taxable, which are tax-exempt, and how to track them effectively to maximize tax advantages. Get expert tips on tracking health insurance premiums, retirement contributions, and more.
Discover how the Alternative Minimum Tax (AMT) can impact small business owners. Learn about AMT strategies to reduce or avoid this added tax burden, including timing deductions, exercising stock options, and maximizing regular tax deductions. Get expert advice to minimize your AMT liability and ensure your business’s financial success.
Navigating small business taxes? Get answers to your top questions about filing, deductions, quarterly payments, and more. Learn how to optimize your tax strategy, avoid penalties, and maximize your financial success.
Learn how to register your business with your state in six easy steps. This guide covers choosing a business structure, selecting a business name, preparing required documents, and completing state registration. Discover helpful tips on obtaining permits, licenses, and EINs to ensure your business is fully compliant and ready to operate.
Confused about your child’s first paycheck and taxes? Learn if your kid needs to file a federal or state income tax return based on their age, income type, and location. Get expert advice on earned vs. unearned income, self-employment taxes, and how to claim refunds.
Want to save money on taxes and teach your child valuable life skills? Hiring your child to work for your business can be a mutually beneficial arrangement. This comprehensive guide walks you through the process, from determining eligibility to setting up payroll and maximizing tax benefits. Learn about the potential pitfalls, best practices, and real-world examples to make the most of this strategic move.
Want to hire your child to work for your business? This guide outlines the step-by-step process, including legal and tax considerations, to ensure a smooth transition. Learn how to create a family management company, set up payroll, and determine your child’s wages.
