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Reply to "How to pay your children through your LLC"
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[quote=Anonymous][quote=Anonymous][b]Anyone ever done this? Our accountant recommended it. DH flips houses through an LLC and our boys help him through the summer. He just pays them cash. But the accountant says if he pays them "over the table," we can then fund Roth IRAs for them, which we'd like to do. Accountant said it's best to go through a payroll service. I contacted one, and was quoted over $700 in fees to pay my two kids a total of $6,000 ($3,000 each, one time). This seems high to me. Any suggestions for low-cost payroll services, or any other advice about this matter? Thanks![/quote][/b] Uh, our own CPA ran the payroll for both kids - you should ask. There are limits and you can't cross them. Go back to your accountant and ask why they can't do it themselves. [/quote]
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