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Business Tax Tips
Tax advantages of hiring your child at your small business
/in News, Tax Tips - Business /by Betty KimAs a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here are some considerations. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for […]
Is an S corporation the best choice of entity for your business?
/in News, Tax Tips - Business /by Betty KimAre you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most suitable form of business for your new venture. Here’s an explanation of the reasons why. The biggest advantage of an S corporation over a partnership is that as S corporation […]
New California sales and use tax rates take effect on April 1, 2021
/in News, Tax Tips - Business /by Betty KimNew California sales and use tax rates take effect on April 1, 2021. The CA Dept. of Tax and Fee Administration (CDTFA) has announced new rates