|
#1
03-06-2007, 09:25 AM
| |||
| |||
 Re: hiring own children in sole proprietary business "Fuzzy Faced Leader" <keithreed...[at]yahoo.com> wrote: - quote - > nativecra...[at]gmail.com wrote:
You may not have to collect or pay payroll taxes (social> > I understand one can hire his/her own children, 7 to 18 > > years old, to help his/her sole proprietary business. =A0Where > > do I show this expense in Schedule C? =A0Is there a special > > form to fill out for this expense? > If you hire them, you haveto pay them a wage. =A0You need to > file quarterly and annual payroll tax forms, including a > W-2. =A0Then show the gross wages on Schedule C under the > Salaries and Wages line. security and medicare, FUTA) on "family employees". See Pub 15 for the rules. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
03-05-2007, 01:09 AM
| |||
| |||
| Re: hiring own children in sole proprietary business nativecra...[at]gmail.com wrote: - quote - > I understand one can hire his/her own children, 7 to 18
If you hire them, you haveto pay them a wage. You need to> years old, to help his/her sole proprietary business. Where > do I show this expense in Schedule C? Is there a special > form to fill out for this expense? file quarterly and annual payroll tax forms, including a W-2. Then show the gross wages on Schedule C under the Salaries and Wages line. << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
|
#-1
03-03-2007, 09:07 AM
| |||
| |||
| hiring own children in sole proprietary business I understand one can hire his/her own children, 7 to 18 years old, to help his/her sole proprietary business. Where do I show this expense in Schedule C? Is there a special form to fill out for this expense? << ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| business, children, hiring, proprietary, sole |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| W2 for children of sole proprietor Marion1E@comcast.net: I paid my children a small wage to help me in my business. How do I enter the fact that these are non-taxable wages on the W2. Does it go into box... | Taxes | 5 | 02-27-2007 08:33 PM | |
| LLC (Sole Proprietorship) formed 2006, no business transpired gg.5.fissionhead@xoxy.net: Last year I formed a LLC and got a EIN. It is, for tax purposes, a sole proprietorship. No business occurred in 2006. Well, I started a bank... | Taxes | 3 | 02-25-2007 09:00 AM | |
| sole proprietorship - business travel and other expenses Steve G: Greetings. I have a budding career as a writer and speaker that has gotten to the point where it's generating non-trivial expenses. I'd like to... | Taxes | 4 | 07-01-2005 04:06 PM | |
| Sole proprietor nees to pay both personal and business income tax? vector_sigma: Hi all: I am currently a sole proprietor, and I have a TIN number. I have never been married, and I live in California. The big question about... | Taxes | 1 | 09-23-2003 10:48 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
