By hiring your children, you can
pay low wages.
show how much you care.
transfer wealth without estate taxes.
avoid payroll taxes. (Not the correct answer)

Question

04-07-2021
Business

Answered

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By hiring your children, you can
pay low wages.
show how much you care.
transfer wealth without estate taxes.
avoid payroll taxes. (Not the correct answer)

Sagot :

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Parrain Parrain · Answer 1 · 2021-07-09T22:49:17-04:00

Answer: transfer wealth without estate taxes.

Explanation:

There are several methods to avoid having to pay estate taxes when passing on wealth to your children and this is one of them. By paying your children more than you should actually be paying them, this would be counted as payroll.

Of course your children will just get charged higher payroll taxes but you would have avoided estate taxes. Other methods include gifting them money up to a certain extent every year or using a Grantor Retained Annuity Trust.

Sagot :

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