S Corp – Paying Children with Family Management Company

Onagem
Onagem Member Posts: 1 Newcomer
edited January 2024 in Filing my taxes

I have an S Corp. There is conflicting information online regarding the use of a Family Management Company (LLC) for the purpose of paying my minor children who work for me. Do I have to use a payroll service for them or is the FMC legal?

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Answers

  • KFine3325
    KFine3325 FreeTaxUSA Agent Posts: 48
    edited December 2023

    Our forum may not be able to assist you with this question as we primarily deal with individual tax return questions. I recommend consulting with a business tax expert for advice regarding your S Corp & payments to family members.

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