Article Date:
June 2018


Word Count:
1060

 

 

Reduce Your Taxes: Make Your Spouse a Business Partner


Tax reform likely has you considering your business’s tax structure.

 

We’ll show how you can use a spousal partnership to reduce your tax hit compared with a sole proprietorship.

 

And here’s the real surprise: you can possibly save more money with this type of partnership compared with the S corporation.

 

Strategy Overview

 

It works like this:

 

1.

You own an existing sole proprietorship or want to start a new business.

2.

You and your spouse form a general partnership or limited liability company to manage the business.

3.

You and your spouse provide cash or property for your interests in the new business.

4.

Your spouse does not participate in any way in the business. He or she is merely ... Log in to view full article.

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