Hiring Your Kids
If you run a sole proprietorship, hiring your kids to work in your business has several tax advantages. First, make sure the work they are doing and the wage you are paying them is reasonable.
The Profit First Method
The Profit First Method is a way to transform your business by separating profit from your income first, and then paying expenses after. This ensures you are reserving enough cash to pay yourself and creating a cushion for expansion, taxes, a slowdown in income, or unexpected expenses.