How Paying Your Children can Save You BIG Tax Dollars [Tax Smart Daily 041]

Item: Hall CPA PLLC
Rating: 5
Author: Mike Dymski - Business Owner

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You can obtain significant tax savings by employing your children to work in your business. Learn more in this video.

Listen in to learn:

How paying your children saves you big money in taxes
The standard deduction of $12,550
What makes you eligible to pay your children
What taxes you can avoid
The things you should be aware of before hiring your children

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★★★★★

Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

Mike Dymski - Business Owner

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