Paying yourself from your business depends heavily on your entity structure and understanding the tax implications of your choice. This post gives you a few key points to remember, but call us as Ken-Mar Tax for more in-depth tax advice. A common question among business owners is how to pay themselves from their businesses properly....Continue reading
Tag: W-2
Q&A: Should I Pay My Daughter by W-2 or 1099?
Question from a Cleveland small business owner: How do I pay my daughter? I will hire my 15-year-old daughter to work in my single-member LLC business, and I expect to pay her about $12,000 this year. Do I pay her through payroll checks and file a W-2? W-2 Payment is Important When Paying Your Daughter...Continue reading