Tag Archives: tax savings

Should You Employ Your Kids?

CPA Tiffany and puppy Theo hard at work; Tiffany holds Theo at her desk while he types up an email.

Should you employ your kids? There’s recently been a renewed interest in this strategy on social media. People say that the rich “save money” by employing their kids – but is that true? And is it worth it for you to consider putting your kids on the payroll? Who Can Employ Their Kids? Technically speaking, […]

What is the PTET?

Trainee CPA Mackenzie at her desk, studying and enjoying a cup of coffee.

If you’re a small business owner, you’ve probably heard about passthrough entity tax – but what is it? Benefits of the PTET The PTET allows business owners to pay state taxes through their business and receive a credit for the tax paid on their individual return. It doesn’t change the amount of state tax owed […]