If you have a single person LLC, the IRS has decided you can now pay salary to your kids under 18 and not owe any withholding or unemployment taxes and not owe any unemployment taxes on salary paid to your spouse. This is a radical change from the last 3 years. It is for payroll paid after Novemeber 1, 2011 but is retroactive for payroll paid back to January 1, 2009 and expires on October 31, 2014 (Happy Halloween!) Call me at 818-317-6035 or 818-333-5095 or email me at bstonercpa@sbcglobal.net with questions – you can amend those returns and maybe get back some payroll taxes you paid in 2009, 2010 and 2011.
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