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I have a family business and I employed my 3 children age
I have a family business and I employed my 3 children age 15, 17, and 20. I gave all 3 of them a 1099 nec. Do they need to file taxes? The amount was for $12,000 each. … read more
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I have 2 children under 18 and one child turned into 18 in
Good morning, I have 2 children under 18 and one child turned into 18 in May 2020. My children have been helping me in the rental apartments for fixing and management. How can I pay them? What steps s… read more
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Came across the below, as a client wants to fund IRA for his
For Carter,Came across the below, as a client wants to fund IRA for his kids. He is a business owner but it is an S-Corp. Can he still do this if he is an S-Corp or can he just say he has another sole… read more
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My husband has an S corp. We are interested in implementing
My husband has an S corp. We are interested in implementing the 'kiddie tax' by hiring our children into the corporation. If we did that as I understand it, their pay would be subject to withholding. … read more
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I have a general tax question. If we have a business and pay
Good day. I have a general tax question. If we have a business and pay our kids to help us, what kind of documentation is required to support this input on our tax returns? And does an Excel spreadshe… read more
DK_CPA
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I have an S Corp and want to hire my 2 kids (15 and 12 years
Hi, I have an S Corp and want to hire my 2 kids (15 and 12 years old). My CPA says I could but would have to pay payroll taxes on W2. I read online that If I opened a sole proprietorship and paid kids… read more
Dr. Fiona Chen
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For a Florida business owner is this true? If the workers
For a Florida business owner is this true? If the workers are 18 (and you're a sole proprietor or LLC) you won't have to pay any social security or Medicare taxes. However, if you're an S-Corp or C-co… read more
Robin D.
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WHAT SHAL I DO WHEN MY INDEPENDENT CLEENING CONTRACTOR IS
WHAT SHAL I DO WHEN MY INDEPENDENT CLEENING CONTRACTOR IS WORKING FOR ME 2X WEEK FOR 4HRS AS NEEDED. I AM 88 YEARS OLD, HANDICAPPED … read more
Barbara
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IN HIRING MY 17 YEAR OLD AND MY 18 YEAR OLD PART TIME IN MY
i AM PLANNING IN HIRING MY 17 YEAR OLD AND MY 18 YEAR OLD PART TIME IN MY SCH C BUSINESS. WHAT TAXES ARE THEY EXEMPT FROM? I KNOW UNDER 18 ARE EXEMPT FROM SS AND MEDICARE AND FEDERAL UNEMPLOYMENT. ONC… read more
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I have an LLC and i purchase about 8 rental properties per
i have an LLC and i purchase about 8 rental properties per year. 2015 was my fist year in business. I originally did the majority of work on the properties my self in the evening and weekends as i hav… read more
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I currently own a single member LLC. I am looking to purchase
I currently own a single member LLC. I am looking to purchase a franchise with two others. I will own 90% of the franchise; the others, 10%. I would like to employ my two sons (under 18) in the new fr… read more
Megan C
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I paid my children (both under 18) $9,000 each for helping
I paid my children (both under 18) $9,000 each for helping me with work in my small business for the year 2009. I wrote the expense off from my business, but paid the taxes for each of my children out… read more
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If an accountant says I can put my 4 and 5 year old children
If an accountant says I can put my 4 and 5 year old children on my small business' payroll to save on social security taxes, is that an immediate flag that he is a bad accountant?… read more
Robin D.
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Hi,I own 7 pieces of realestate and my children help out
Hi, I own 7 pieces of realestate and my children help out by mowing lawns, painting, taping, etc. I am reading online that I can pay my children income. Being that I am not incororated, have documenta… read more
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We own a small business and our daughter worked for us and
We own a small business and our daughter worked for us and somehow the 1099's was in my name which we filed on the business taxes but the social number was in our daughters name the taxes was filed bu… read more
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My son has a small home business. It it under his social and
My son has a small home business. It it under his social and he is sole proprietor. It stared as a contracting business... then his wife stared cleaning for the same people. Last year the contracting … read more
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I have hired my children age 16 and 13 to work in our ...
I have hired my children age 16 and 13 to work in our vegetabl business. I have filed a Schedule F (farm profit and loss). I want to take the deduction of $1434 for hiring them. Since they are under 1… read more
Mark D
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I run a small portrait studio.If my sons are working with ...
I run a small portrait studio. If my sons are working with me do I need to treat them (tax wise) as employees in the same way I would non family members? Do I need to pay unemployment and federal taxe… read more
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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