Marriage, Kids, and Family!
If you are thinking of getting married or divorced, you need to consider December 31, 2019, in your tax planning.
Here’s another planning question: Do you give money to family or friends (other than your children who are subject to the kiddie tax)? If so, you need to consider the zero-taxes planning strategy.
And now, consider your children who are under age 18. Have you paid them for work they’ve done for your business? Have you paid them the right way?
Here are five strategies to consider that you can put in play before the end of 2019.
1. Payroll Tax Strategy
2. Even Strategies around Divorces
3. Strategies around Mortgage Interest and relationship status
4. Even Strategies around getting Married
5. Make Use of the 0 Percent Tax Bracket
We know that taxes can cause confusion. Remember, that’s why you have us, and I’m always here to be of service. If you want to discuss any of the strategies above, please book your consultation today. You can also contact us at 833-438-2937.
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.