Daily Archives November 17, 2019

Tax Treatment For Family Members

In October, the IRS posted a new Fact Sheet, FS-2019-14 concerning tax treatment for family members.  You can read the entire tax tip below: One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and employment tax rules apply. Here are some facts to know when working with a spouse, parent or child. Both spouses carrying on the trade or business If spouses carry on a business together and share in the profits and losses, they may be partners whether or not they have a
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