In 2006, J.D. Roth, personal finance blogger, started the award-winning website Get Rich Slowly. Over the past 12 years, Get Rich Slowly has grown into an active community in which thousands of readers every month share ideas on how to improve their financial lives.
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MarketWatch • 7 hours ago
Say you operate your business as a sole proprietorship, as a single-member LLC that is treated as a sole proprietorship for tax purposes, as a husband-wife partnership, or as an LLC that is treated as a husband-wife partnership. Great! That means you can hire your under-age-18 child (as a legitimate employee) and his or her wages will be exempt from Social Security tax, Medicare tax, and federal unemployment (FUTA) tax. Thanks to the Tax Cuts and Jobs Act (TCJA), your employee-child can use his or her standard deduction to shelter up to $12,000 of 2018 wages paid by your business from the federal income tax.
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Thousands of dollars moved through an account belonging to someone linked to terrorism in Lebanon, all under the oversight of Australia’s biggest bank. It’s one of many failures that may see Commonwealth Bank pay a $530 million fine—the country’s largest corporate civil penalty.
