Kiddie Tax “Kiddie tax” is the term used for the tax on certain unearned income of children. Children typically are in a lower tax bracket than their parents and the kiddie tax was developed to prevent parents from lowering their tax liability by shifting investment...
Here are five marriage, kids, and family strategies that you can put in play before the end of 2019. Put Your Children on Your Payroll If you have a child under the age of 18 and you operate your business as a Schedule C sole proprietor or as a spousal partnership,...
Household Employees If you have a household employee, you may need to withhold and pay Social Security and Medicare taxes(FICA), pay federal unemployment tax (FUTA), or both. Workers Who Are Household Employees A household employee is an employee hired to perform work...
Death of a Taxpayer When a taxpayer dies, there are certain returns that still need to be filed, a responsibility that falls onto the personal representative. Personal Representative Under state law, a personal representative is the person appointed by a court to...
Individuals who want to attend college but cannot afford the costs outright must find alternative funding through various types of financial aid. Many factors affect eligibility for federal financial aid; therefore, all students should apply for financial aid every...
