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re: How can I reduce my taxable income?
Posted on 4/18/12 at 11:03 pm to VABuckeye
Posted on 4/18/12 at 11:03 pm to VABuckeye
I have an accountant but never inquired about my wife. My business is an LLC and income is on my personal return with pass through taxation. So I just have to pay the quarterly estimated taxes. No big deal.
She does help me out with the business and I like the idea of her payment basically going into a simple Ira plus 3% match. I could pay her 15k, she can defer 11500 and I can match 3%. That would be a good chunk that would be a business expense and less on my taxable income. Of source I would have to pay ss and FICA.
She does help me out with the business and I like the idea of her payment basically going into a simple Ira plus 3% match. I could pay her 15k, she can defer 11500 and I can match 3%. That would be a good chunk that would be a business expense and less on my taxable income. Of source I would have to pay ss and FICA.
This post was edited on 4/18/12 at 11:04 pm
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