Posts Tagged ‘Children’
Summertime Financial Lessons for Your Child
Children on summer break have plenty of free time on their hands, which is usually spent playing outdoors, working on summer projects and participating in various sports and clubs. As parents, you can also weave in financial lessons to these summertime activities to reinforce great money habits. Here are some ideas: Earning money. Teach entrepreneurship with…
Read MoreKids Can Be Expensive! Here Are Some Tax Breaks to Help
Kids can pose challenges from every direction for their parents – feeding times, car seats, sleep schedules, strollers, child care, and of course…taxes! What most parents don’t consider is that these bundles of joy complicate their tax situation. Here are some tax tips that may help: Start a 529 education savings plan. 529 education savings plans…
Read MoreThe Benefits of Being a Sole Proprietor
Many start-up businesses move from hobby status to a business when they start to make a profit. The tax entity typically used is a sole proprietorship. Taxes on this business activity type flow through your personal tax return on a Schedule C. Here are some benefits to consider if you’re trying to decide if being…
Read MoreHow to Raise a Financially Savvy Child
If you have children (or grandchildren) you have an opportunity to give them a jump-start on their journey to becoming financially responsible adults. While teaching your child about money and finances is easier when you start early, it’s never too late to impart your wisdom. Here are some age-relevant suggestions to help develop a financially…
Read MoreReap The Benefits of Hiring Your Child For The Summer
Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And, you will reap a few tax benefits in the process. Before you decide if hiring your child is the right thing…
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