Ok so I've recently learned that you pay your kids that are under the age of 21 to work for you with no payroll taxes. So if I have a 10 year old who makes social media reels for me and does mild lawn maintenance I can pay him an average of 15$ per hour. No payroll taxes. So my next step is do i give him cash to buy his Robux or put this in a high yield savings account? In either case, do i have to report this income on his behalf?

as you can tell this community has been extra Giphy lately.. if you didn't know I am competing in a competition called the Blitz in one of the best communities Goosify. my partner @Gunta Skrastiņa and I are doing very well and are currently in first place on the leaderboard.. the other side to the scoring is how much our specific community rises in the discovery ranks, hence all the GIFs to get our activity level up.. The competition ends 2/3 so I apologize in advance that it will continue until then. I am happy to answer any and all tax questions that you have, please just tag me in the post so I get notified as the blitz causes tons of notifications. we appreciate you all so much! if you do not want to participate in the GIFs we completely understand, but if you want to join in and have some fun we would love that as well :) if we win we get flown out to hang with the Skool World Tour team and gain more insight that we bring right back to the group. we have also been crafting/finalizing our new offer and have been taking our time to make sure it is right before we unleash it on everyone. Thank you for being a part of our journey 🥰

🏦 We just sent our borrowers their 1098s… 2025 Every January we mail our performing borrowers a 1098 (Mortgage Interest Statement) before Jan 31. Simple meaning: ✅ borrower paid mortgage interest ✅ we collected it (blew it) ✅ we report it (like a real lender) It’s boring paperwork… but it’s real proof of “be the bank” in action. 💰 Would you rather: 1. collect rent + deal with tenants or 2. collect mortgage payments + send one tax form a year? I wanted to post something here Taxey

Drop your answer … curious how people are thinking about this. (Mr T …. Do you think that T stood for Tax?)

Even for you experienced investors, you will find this very useful!