Article Date:
July 2020


Word Count:
2172

 

 

COVID-19 Strategy: Hire Family Members to Create Tax Benefits


As you know and have likely experienced, many small businesses have been hurt by the COVID-19 crisis. Duh.

 

Unfortunately, the virus may be around for years, and the prospects for developing an effective vaccine are uncertain. For the near-to-medium-term future, things may be uncomfortably different in many ways.

 

That said, small-business winners will emerge from the COVID-19 crisis and its aftermath. Those winners will not only survive the whole mess but thrive when it’s over.

 

We are here to help your business survive and thrive. Making smart moves right now can help ensure that outcome.

 

In this article, we explain why one smart move could be hiring one or more family members to work in your business.

 

That could help your business and your family in meeting COVID-19-caused cash-flow challenges while also delivering favorable tax results to both the newly employed family member(s) and your business (think double benefit).

 

We will start with the favorable tax results for ... Log in to view full article.

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