A SUMMER TAX TIP FOR SCHEDULE C FILERS

July 9, 2014 by OSYB Staff

“Hiring your dependent child(ren) is a great deduction for parents with a Schedule C business. For 2014 a dependent can earn up to $6,200 in wages (or a combination of wages and up to $350 in “unearned income” such as interest, dividends, and capital gains) and pay no federal, and probably no state, income taxes. Read more.