Article Date:
December 2013

Word Count:



Year-End Tax Deduction Tips for Kids and Marriage

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?


You should.


Why? First, wages paid by the parent to the parent’s under-age-18 child for work done in the parent’s business are both1



deductible by the employer-parent, and


exempt from payroll taxes for ... Log in to view full article.

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