Providing financial support to aging parents or in-laws while managing child care needs can be taxing. Learn how converting support payments to child care payments can qualify you for a dependent care credit, easing your tax burden and benefiting your family in our latest blog post.
As a business owner, navigating self-employment taxes can be challenging, especially if you’re an active limited partner in a partnership. Recent IRS rulings and court decisions have clarified that simply holding the title of a limited partner isn’t enough to avoid these taxes if you actively participate in the business. Understanding the implications of these changes and exploring alternative business structures like S corporations can help you strategically minimize your tax liabilities.
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