There are a number of what I consider to be unusual opportunities to reduce your business taxes. This is an idea to take to your tax advisor and figure out if it works for you. The tax rules are complex and filled with traps for the unwary so don’t run with any tax idea without checking first with your advisor. Ok, enough with the disclaimer.
If you’ve ever looked at your kids and said “You can’t sit on you tail all day playing video games. Go find a job”. Well that is exactly what we are going to do for them-get them a job and you are going to be their boss! Here is the best part; while your kids are working you are going to save some taxes! It sounds too good to be true doesn’t it?« Continue »