Article Date:
October 2011
Word Count:
897
Use Business Tax Deductions to Build Your Child’s College Fund
The tax strategies in this article involve hiring your child and then having your child fund a Roth IRA.
The basics of hiring your child are in the article titled “Big Tax Breaks for Hiring Your Child.”
If you forgot the basics, give the “hiring your child” article a quick read. You will note that both the corporation and the proprietorship can benefit from hiring your child, but the proprietorship gets the biggest break because there are no payroll taxes when a child under age 18 is employed by his or her ... Log in to view full article.
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