joelgilb Posted April 9, 2009 Report Share Posted April 9, 2009 Anyone know if wages paid by a parent (from Sched C) to their children are still exempt from social security tax? Quote Link to comment Share on other sites More sharing options...
zeke Posted April 9, 2009 Report Share Posted April 9, 2009 UNDER AGE 18 Z Quote Link to comment Share on other sites More sharing options...
schirallicpa Posted April 9, 2009 Report Share Posted April 9, 2009 yes..... Quote Link to comment Share on other sites More sharing options...
joelgilb Posted April 9, 2009 Author Report Share Posted April 9, 2009 UNDER AGE 18 Z that's what I meant, under 18. Thx Zeke! Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted April 9, 2009 Report Share Posted April 9, 2009 Yes, until age 18. See Pub 15, page 9 for details. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 9, 2009 Report Share Posted April 9, 2009 They better still be or I am in trouble. Hired my kids as sign wavers this year in front of my office. No crazy costumes, just a big sign. They were so excited to get a job, until after the first 15 minutes. Then they started asking when they got the first break. It is a good thing they are exempt from child labor laws also, or I would be in a world of hurt for making them work 55 minutes of every hour. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 9, 2009 Report Share Posted April 9, 2009 They better still be or I am in trouble. Hired my kids as sign wavers this year in front of my office. No crazy costumes, just a big sign. They were so excited to get a job, until after the first 15 minutes. Then they started asking when they got the first break. It is a good thing they are exempt from child labor laws also, or I would be in a world of hurt for making them work 55 minutes of every hour. Tom Lodi, CA LOL. Gotta love those kids! Mine are about like yours! BUT, Tues we had snow, and mine were out of school. 17-year-old daughter brought me lunch, put up about a million files (or 75), and swept the office. Has not asked for ANYTHING, and I heard no bad reports from other moms. WOW!!! Quote Link to comment Share on other sites More sharing options...
Catherine Posted April 9, 2009 Report Share Posted April 9, 2009 My 16-year-old does all my document scanning for me. She does a GREAT job, too. I pay her well for the work and get every penny's worth and more. Catherine Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted April 9, 2009 Report Share Posted April 9, 2009 My first job when I was 13 years old was copying tax returns for my mom's business. I progressed to checking returns, then filling them out, then teaching the training course in the fall before I was 18 and left for college. And here I am today - still in the same insane business that I swore I was getting out of back then. Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 9, 2009 Report Share Posted April 9, 2009 My 16-year-old does all my document scanning for me. She does a GREAT job, too. I pay her well for the work and get every penny's worth and more. Catherine That's money well spent! I secretly wish one of mine would decide they want to be an accountant and work with me. But, then, I think about how most of these family things work out, and think, nah! Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 9, 2009 Report Share Posted April 9, 2009 That's money well spent! I secretly wish one of mine would decide they want to be an accountant and work with me. But, then, I think about how most of these family things work out, and think, nah! I hope for better for my boys. All I can give them is a christian home, a strong work ethic, and hopefully a few dollars for college. The rest is up to them. If they really want to come back to the business, that would be OK, but I would hope they will pursue their own dreams and ambitions. They hate the fact that I hand their paychecks to their mother, she shows it to them, and then the entire check goes straight to the bank to fund their Roth IRA's. Since they will have had the Roth's for over 5 years when they get to college, they can use the money then. They may not like it right now, but hopefully some day they will look back and appreciate that the money was not wasted on video games, junk food, and movies. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 10, 2009 Report Share Posted April 10, 2009 I hope for better for my boys. All I can give them is a christian home, a strong work ethic, and hopefully a few dollars for college. The rest is up to them. If they really want to come back to the business, that would be OK, but I would hope they will pursue their own dreams and ambitions. They hate the fact that I hand their paychecks to their mother, she shows it to them, and then the entire check goes straight to the bank to fund their Roth IRA's. Since they will have had the Roth's for over 5 years when they get to college, they can use the money then. They may not like it right now, but hopefully some day they will look back and appreciate that the money was not wasted on video games, junk food, and movies. Tom Lodi, CA Sounds to me like you have it exactly right, Tom! One of my favorite preachers always says, "You can't give your kids what you want them to have. You can only give them what YOU have." Christian home, strong work ethic, a few dollars for college - your kids have been raised well. They'll do great. I pray that mine are learning the same things. P. S. Mine have ROTH IRA's, too. I wish I had known the value of time when I was 16 years old. A while back, I sat with my 21-year-old at the computer, showing him what saving $100 a month would look like at age 65. The look on his face said it all. He said, "Whoa. Anybody can save $100 a month, Mom." Quote Link to comment Share on other sites More sharing options...
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