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WCI #403: Exploring Taxes with a Friend of WCI

White Coat Investor Podcast

CHAPTER

Hiring Family: Tax Benefits and Considerations

This chapter explores the implications of employing family members, particularly spouses and minor children, in a business context. It highlights the financial advantages of hiring a spouse for tax deductions and retirement planning while also discussing the potential greater benefits of hiring minor children. The conversation addresses the importance of proper documentation and compliance with IRS regulations, along with the practical aspects of managing household employment taxes.

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