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Putting your kids on payroll for tax savings

If you are a business owner, it might be positive to employ your kids or other family members in the business. Especially, if you are already supporting these individuals at your higher tax rate, it might be quite beneficial to have an expense for the business and save on the taxes paid a lower rate

By |2024-12-15T05:34:03+00:00March 3rd, 2025|Categories: Business, Individuals|Tags: , , , , , , , , , , |

IRS releases more warnings about Clean Energy scams (IRA) and misleading claims on the Self employment tax credit

In July 2024, the IRS released several warnings on widespread scams and misleading claims on the Self Employment tax credit. The IRS is taking a proactive communication approach and raising awareness of scams, fraud and other misleading information on social media and by different promoters.   Clean Energy Tax Credit – In the IR-2024-182, the

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