Are you hiring your children who are under age 18 to work for your sole proprietorship or husband-wife partnership? If so, the wages paid to your under-age-18 children are exempt from Social Security and Medicare taxes. These wages are also exempt from Federal unemployment tax until the children are 21. These exemptions do not apply to corporations or partnerships that are not made up of both parents of the child.
Do you know if your company is operating at its full potential?
Our 7 Point Financial Health Checklist will help you determine if your company is optimized for the best tax, accounting, and succession situations available. When you know that your company is ready for anything that comes your way, it gives you peace of mind about your future.
Whether you run a family farm or a multi-state company we can help you manage any financial situation that comes your way. This free checklist is a great way for you to make sure you are doing everything you can to not only protect your company but position it for long-term success.
Download our 7 Point Financial Health Checklist for Your Business today and take the first step in assuring yourself that your business is positioned to thrive.
