The 3 Biggest Tax Loopholes Every Small Business Should Know

[@KacyPvirre-ft2ql]

Could I pay my 10 year old niece to work for my business? She’s obviously not my child but she lives with me. I would have her do real age appropriate work.

[@mycpacoach]

Yes

[@droman448]

Does spouse count as well? My wife does all my marketing and video editing. Would I be able to pay her with this strategy?

[@mycpacoach]

Potentially but there may better options. I’d suggest getting a CPA involved for actionable advice. You can get a free consult on our website.

[@BlakeBooyah]

This is small business gold! Thank you Sherman!

[@mycpacoach]

My pleasure. Thanks, Blake!

[@AiPhan-h8m]

Can I pay my 12 years on Son to work for me as a house chores and issue him a 1099? Thank you!

[@mycpacoach]

Probably not. He would have to do a task for your business.