Posted 1/13/2012 17:41 (#2160061 - in reply to #2159889) Subject: RE: Paying minor children wages - advice needed
Owens Cross Roads, AL
I have twin boys that are 17 years old. I pay them a certain amount per hour for each hour they work, this is their spending money. I also pay them a large amount each year that goes into their college 529 program. They both file taxes, but under the age 18 they don't have to pay FICA. They are in a 15% bracket where I am in a 33% bracket. I helps alot on taxes and self employment taxes. Wilson
Paying minor children wages - advice needed
