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Posted by Herb Smith on March 6, 2007, 5:25 am
Please log in for more thread options > nativecra...@gmail.com wrote:
>> I understand one can hire his/her own children, 7 to 18
>> years old, to help his/her sole proprietary business. =A0Where
>> do I show this expense in Schedule C? =A0Is there a special
>> form to fill out for this expense?
> If you hire them, you haveto pay them a wage. =A0You need to
> file quarterly and annual payroll tax forms, including a
> W-2. =A0Then show the gross wages on Schedule C under the
> Salaries and Wages line.
You may not have to collect or pay payroll taxes (social
security and medicare, FUTA) on "family employees". See Pub
15 for the rules.
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