I plan on paying ny kids this year. I have a LLC running short term rentals. My plan is to write a check from the business to their roth ira for minor. Their service will be marketing (planning on using them on my next photoshoot). Child stars can make millions... A $500 photoshoot seems appropriate. My question, how do i execute this contract. Do i write an official offer and the parent myself would sign it? Obviously the pictures will be on the websire as evidence.
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I've watched so many financial shows... and never see the gold Nuggets you showcase!
While your family might be in a lower tax bracket, what about Payroll taxes they and I have to pay on their wages.
I plan on paying ny kids this year. I have a LLC running short term rentals. My plan is to write a check from the business to their roth ira for minor. Their service will be marketing (planning on using them on my next photoshoot). Child stars can make millions... A $500 photoshoot seems appropriate.
My question, how do i execute this contract. Do i write an official offer and the parent myself would sign it? Obviously the pictures will be on the websire as evidence.
Hi Sherman, does it matter if we pay our kids/family members through a 1099? or does it have to be through a w2?
Depends on entity setup. Are you paying them through a family management LLC?
@@mycpacoach i have the same question, we have a family management llc set up.