The Small Business Tax Help Blog

Posts Tagged ‘tax advantages’

Question: is there a tax advantage to paying my wife formally from my business if she does not work otherwise?

Answer: just be careful if you have a ltd company as there is currently a case where the revenue are trying to treat the wifes income as her husbands and therefore taxing the additional income on the husband at 40%. as long as the wife is working in the company or business, you can pay her. even if she isnt a director or secretay of a company, she will be treated like a director as husband and wife are seen as the same. best take some professional advice from an accountant to avoid any problems and get it setup correctly.

Some affluent areas qualify for tax breaks intended to benefit the poor

Businesses can save up to $37,400 for hiring in an economically disadvantaged area. But those areas are designated based on large census tracts that don’t always reflect the intended demographic. Among the advantages for those who live in multimillion dollar houses on the hillside in Los Feliz are celebrity neighbors, sweeping views of the downtown skyline, the Griffith Observatory in their …

Diamond Holiday Online Home Business (Tax Advantages) – UPDATE