Today’s question comes from Alan in Sacramento California.
“I’d like to hire my kids to do some administrative work around the office. Am I allowed to hire my kids in my LLC and how does that work?”
Hiring your kids can be a fantastic experience for your kids and a huge tax deduction for your business. A definite win-win.
In today’s video we’re going to be addressing the following questions:
When can you hire your kids as employees?
How much can you pay your children?
Do your kids qualify for retirement contributions (401k or Roth)?
Does your child need to file a tax return?
What jobs can your child do?
What documentation is required?
If you have a question, please head over to our website [ Ссылка ] and leave a question for us.
Thanks for watching!
For more information, check out these IRS publications:
IRS Publication 929 – [ Ссылка ]
IRS Publication 501 - [ Ссылка ]
Connect with Brett Philips, CPA
Website – [ Ссылка ]
E-mail – brett@pscdfw.com
Linkedin – [ Ссылка ]
Twitter - [ Ссылка ]
Small Business Guide to QuickBooks Online - [ Ссылка ]
Music provided by Argofox: A Himitsu - Adventures [ Ссылка ]
#askacpa #CPA #LLC #Limitedliabilitycompany #smallbusiness #QuickBooks #Intuit #tax #taxdeduction #Section179 #bonusdepreciation #depreciation #IRS #assetprotection
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