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Daycare and Taxes>Doing daycare with my fiance???
CtheLove 09:28 AM 04-24-2014
Once I have enough kids coming in the plan is for my fiance to quit his job and join me in the business. We have been together for 6 yrs and have two kids together so he's not going anywhere any time soon. lol

But I'm just not sure how to go about it on the tax side of it. Do I hire him as an employee (which I really don't want to have to do all that paper work)? Or is there a way to add him to the business as a partner?

I just don't have a clue.
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TomCopeland 01:05 PM 05-06-2014
Originally Posted by CtheLove:
Once I have enough kids coming in the plan is for my fiance to quit his job and join me in the business. We have been together for 6 yrs and have two kids together so he's not going anywhere any time soon. lol

But I'm just not sure how to go about it on the tax side of it. Do I hire him as an employee (which I really don't want to have to do all that paper work)? Or is there a way to add him to the business as a partner?

I just don't have a clue.
You don't have to hire him as an employee. He can work for you without any money changing hands and there are no payroll taxes to be paid. Unless your name is on the house mortgage you can't deduct property tax, mortgage interest, house depreciation. If your name is on the utility bill you can deduct part of this cost.

See my article: "Can You Claim House Expenses if you are not Married?": http://www.tomcopelandblog.com/2012/...t-married.html

The short answer for your situation is: Get Married! You will save money on your taxes.
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