Roughly 10,000 Baby Boomers will turn 65 today. You’ve paid into Social Security all your life. Now you are getting close to retirement. When should you begin drawing benefits? Continue reading “Retirement – When Should I Begin Collecting Social Security?”
I had a client call me last week that was concerned about a home loan he was taking out. “My loan broker told me interest on home equity loans is no longer tax deductible. Is that true?” Continue reading “Can I still deduct interest paid on my home equity loan?”
I am often asked by business clients, “Is there any benefit to hiring my children in my business?” The answer is, “Absolutely yes!!!!”
Hiring children in a family business often provides valuable work experience to children. Many business owners would love to transfer a successful family business to the next generation. Starting early allows the children “get their feet wet.” The business owner can also assess whether the child has the ability and the desire to succeed.
But more than that, there are substantial tax benefits to hiring your children in a family business: Continue reading “Can I Hire My Kids in My Business? Absolutely!”
Daniel J. Domancich, CPA 