How would you or your corporation like to help pay for your grandchild’s college education (or other training), and get a nice business tax deduction at the same time?
Well, you can.
All you have to do is know how to take advantage of Section 127 of the tax code.
Want to find out more about how to put Section 127 to work for you? Read my new article titled Tax Tips: Federal Tax Deductions for Section 127 Education of Grandchild.
Three ways our fact-filled article can help you:
- You’ll know how to become eligible for the Section 127 deduction. If you hire your grandchild, whether the grandchild is over or under the age of 21, you’re good to go. He or she will receive full education benefits and you’ll come out a winner too as you’ll learn when you read the full article.
- We’ll tell you even more good news. Your grandchild doesn’t have to be your dependent. You’ll get all the details when you read the full article.
- You’ll learn why your grandchild mustn’t have an ownership-interest in your business. The attribution rules do not apply to your grandchild. Accordingly, the code treats him or her the same way as any third-party employee for purposes of the Section 127 plan. We’ll give you the whole story when you read the full article.