Your family and marital status provide tax deduction possibilities that you can implement before the end of the year.
In this article, we look at four tax benefit strategies:
Your children on your payroll
Using the 0 tax bracket
1. Your Children on Your Payroll
Did your under-age-18 children help you in your business this year? Did you pay them for their work?
Why? First, wages paid by the parent to the parent’s under-age-18 child for work done in the parent’s business are both
deductible by the employer-parent, and
exempt from payroll taxes for ... Log in to view full article.