Fun Fact! Did you know?...

Did you know?...
Family Help
One of the advantages of operating your own business is hiring family members. However, employment tax requirements for family employees may vary from those that apply to other employees. The following information may assist you with pointing out some differences to consider.
Child employed by parents
Payments for the services of a child under age 18 who works for his or her parent in a trade or business are not subject to social security and Medicare taxes if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of the child. Refer to the "Covered services of a child" section below. Payments for the services of a child under age 21 who works for his or her parent in a trade or business are not subject to Federal Unemployment Tax Act (FUTA) tax. Payment for the services of a child are subject to income tax withholding, regardless of age.
Covered services of a child
The wages for the services of a child are subject to income tax withholding as well as social security, Medicare, and FUTA taxes if he or she works for:
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The Health Care Law and Your Taxes

Last Minute Filing Tips for Individuals
If you have not yet filed your federal tax return, here are three last-minute filing tips related to the health care law. Remember that the tax filing deadline this year is Monday, April 18.
Check the box to report health care coverage
If you are concerned that the health care law might require additional time to complete your tax return, remember that most taxpayers will simply check a box related to health care on their return. If everyone listed on your return had qualifying health care coverage for the entire year, you will simply check the box on your return to indicate you had coverage.

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