Hi,
I have a small photography business as single member LLC. It's my side job/hobby. I have w2 job.
My 13yrs old kid helps me with the photoshoots and my wife does photo editing.
Got a couple of questions
1. How can I hire both of them with minimal overhead?
2. If I go with TurboTax(TT) for filing, do you have a payroll system I can use?
3. I have a net income of about 10K. Can I pay about 50% of it to both of them as salary?
4. Or is it better to just put that 10K into my 401K so that I don't have any income left to add to my personal taxes?
5. If I go with TT for filing, does this situation come under personal taxes or business? I have a rental property and capital gains as well to report.
6. If I go with TT, how can I get answers to any tax questions middle of the year?
Thanks in advance for the help!
