2020 Last-Minute Year-End Tax Strategies for Marriage, Kids, and Family

If you have children under the age of 18 and you file your business tax return as a proprietorship or partnership, you can find big savings in the work your children do for your business. And if you operate as a corporation, don't neglect to hire your children; there are good savings for you there, too. Here you will discover five Year-End Tax-Deduction Strategies that apply if you are getting married or divorced, have children who did or could work in your business, and/or have situations where you give money to relatives and friends. 1. Put Your Children on Your Payroll If you have a child under the age of 18 and you operate your ...