Paid Your Child For a One-time Job?Three Rules Your Preparer Needs To Get Right To get my complete article with all the details… You paid your college student for a one-time project. You took the deduction. The family came out ahead. But now the details matter. Which Form 1099 do you use—and which box? Does the kiddie tax apply? Can your child contribute the income … [Read more...]
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A Little-Known Way to Pay Family (Without Payroll Taxes?)
“A Little-Known Way to Pay Family(Without Payroll Taxes?)” To get my complete article with all the details… Most tax pros know the “hire your child” strategy. But here’s what I’ll admit—I used to think that once the child was over 18, or if the business was a corporation, the payroll tax benefit was largely gone. Turns out, that’s not always the case. Here … [Read more...]
The IRS Attribution Rules That Catch Owners Off Guard
“The IRS Attribution RulesThat Catch Owners Off Guard” To get my complete article with all the details… Attribution rules don’t look dangerous—until they quietly change who owns what for tax purposes. They can turn a routine transaction into a denied loss, unexpected stock ownership, or even a controlled group problem. And here’s the hard fact: three … [Read more...]
Family Relationships the IRS Cares About More Than You Think
“Family Relationships the IRS CaresAbout More Than You Think” To get my complete article with all the details… Some of the most expensive tax mistakes don’t come with penalties or audit notices. They show up later—as deductions that disappear, losses that don’t count, or timing issues no one expected. The transaction looks clean The pricing is fair The … [Read more...]
The Tax Trap Hiding in Your Corporate Structure
“IRC Section 1563: The ControlledGroup Trap” To get my complete article with all the details… You formed separate corporations. So each one gets its own Section 179 deduction, its own tax credits, its own limits. Right? Not necessarily. There's an IRS rule that can collapse multiple corporations into a single taxpayer—even if they operate … [Read more...]