Small Business Tax Accounting - Child employed by parents. Payments for the services of a child under age 18 who works for his or her parent in a trade or business are not subject to social security and Medicare taxes if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of the child. If you have any questions about this or preparing any tax return for prior years or for the 2012 filing season, please contact us:
Amare Berhie, Senior Tax Advisor
Direct 612-282-3200
Toll
free 866-936-0430
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