Hiring your child: tax breaks and trade-offs

Article Abstract:

Employers who hire their teen children not only get exempted from such payroll taxes as social security tax for the children, but they are able to oversee their work experiences. If a student makes more than $1,750, however, this will reduce potential college financial aid.

Usage, Human resource management, Employment, Youth, Family-owned business enterprises, Family-owned businesses, Tax exemption, Tax exemptions, Payroll tax, Youth employment

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Separating business and commuting costs

Article Abstract:

Costs for commuting to work are nondeductible while business travel is fully deductible, but differentiating between the two is difficult because of IRS rules. The IRS has confusing definitions for 'tax home,' 'home office,' 'temporary assignment,' and 'metropolitan area.'

Analysis, Business travel, Expense deductions

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Redefining the home-office deduction

Article Abstract:

A home office must be a taxpayer's principal place of business to be tax deductible. Congress made the rules for meeting this requirement less restrictive in its Jul 1997 tax bill, but the changes will not be effective until 1999.

Home offices

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