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re: How can I reduce my taxable income?
Posted on 4/18/12 at 10:41 pm to Tigerpaw123
Posted on 4/18/12 at 10:41 pm to Tigerpaw123
So if I hire my wife, say for 10k, then she can contribute the whole amount? I assume I would have to put her on full payroll and pay social security and payroll taxes? Or can I just give her a DRAW like I give myself?
She is a part time sub right now.
She is a part time sub right now.
1
Posted on 4/18/12 at 10:47 pm to ColdDuck
Why are you paying yourself a draw without taxes taken out?
Get on payroll, take taxes out appropriately and you won't have to pay the stupid estimated tax payments.
Better yet. Speak with an accountant and set things up properly.
Get on payroll, take taxes out appropriately and you won't have to pay the stupid estimated tax payments.
Better yet. Speak with an accountant and set things up properly.
This post was edited on 4/18/12 at 10:48 pm
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