Small Business Services

If I Pay My 17 Year Old Daughter For Helping Me In My Business , Do I Have To Withhold Taxes ?

Yes, but if you are a sole proprietor you don't have to withhold Social Security and Medicare taxes. Your child must receive a W2 and report this income on his or her return.

Note If you need professional help with "Small Business Services" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.