If you have children under age 18 and file your business tax return as a sole proprietorship or partnership, you can save big on the work your children do for your business.

If you operate as a corporation, don’t neglect hiring your children; you can save there, too.

In this article, you will find five year-end tax-deduction strategies that apply if you are getting married or divorced, have children who did (or could) work in your business, and/or give money to relatives and friends.

1. Put Your Children on Your Payroll

Did your children under age 18 help you in your business this year? Did you pay them for their work?

You should pay them for the work—and pay them on a ... Log in to view full article.