Should you Hire Your Spouse?
I was on the phone the other day with my client’s CPA discussing some tax deductions I felt the client could be taking. It was a productive discussion, and we found several ways to save our mutual client thousands of dollars per year in taxes. As we discussed shifting income to the kids, however, the question came up as to whether or not the business owner should add his spouse to payroll...
End-of-Year Tax Tips
We are down to the last two months of the year. Do you know what your taxable income looks like for 2018? Have you maximized available deductions? Most business owners have no idea how much less they could be paying in taxes with a little strategic planning. The tax code is made for business owners! Here are some other ideas to consider...