Level 10
10-31-2024
06:41 PM
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I believe these options of no FICA, no MC, no WH, no SUTA, no FUTA, are not available if you are a corporation or s corp. You have to do standard payroll deductions in these cases.
I have a lot of Sole Proprietorship/Single Member LLC clients that take advantage of the tax breaks of employing their kids. The most creative one I have, yet to date, is this real estate broker, who has his kids' pics up on his advertising billboards. They were obviously too young even to water plants.
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