July 2, 2016
If you own a business, hiring your child for the summer may provide him or her with a great work experience and your family with a few tax breaks.
1. You can deduct the wages that you pay your child as a business expense.
2. Your child may not have to pay income tax if his or her annual income is less than the standard deduction amount, which is $6,300 for 2016.
3. Wages that you pay your child are not subject to Social Security and Medicare tax if your child is under age 18 and your business is a sole proprietorship or a partnership in which the child’s parents are the only partners.
Please consult your tax advisor for more details.
Once your taxes have been filed, first, take a moment to breathe a big sigh of relief…and then enjoy some Tax Day (April 15, 2019) discounts. There’s nothing like a good deal to take the sting out of tax obligations. Below, we’ve compiled a short list of best food and drink deals, taken from offer.com.
The long stretch from the end of the winter holiday season until the next break in your routine can feel like eternity. If you feel the need to reboot your enthusiasm as the spring season arrives, try these tips:
Our most precious commodity is time—and our attention is a close second. That’s why everyone can use some help on how to tune out daily distractions. We compiled the following helpful tips from copyblogger.com to get you started on dialing down distractions: