MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

7th Day Of Christmas Tax Tips #shorts

20 Dec 2022 · 0 min

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0:28

In this short, the speaker delivers a holiday‑themed tax tip aimed at small‑business owners. He advises that, before December 31, owners should add their children or spouse to the company payroll and pay them wages at the business’s tax rate. Doing so creates a legitimate business expense that can be written off on the 2022 tax return, providing a year‑end tax benefit. The speaker also plugs his broader YouTube channel and books on Amazon for viewers who want more detailed guidance on getting family members on payroll.

The seventh day of Christmas is making sure your kids or your spouse are on the payroll. Pay them through your business, do not pay taxes at your rate, and then just give money to family members. They should be involved in your business. Anyway, lots to learn here and I've got a lot of content on YouTube and in my books on Amazon. Make sure you're learning on how to get your family on payroll before December 31st or you won't get a write off for it in 2022. It's the most wonderful time of year.