White Coat Investor Podcast cover image

WCI #403: Exploring Taxes with a Friend of WCI

White Coat Investor Podcast

00:00

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.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app