Some people would go as far as to “forget” to declare some of their income. I think we’ve sufficiently discussed the repercussions of not declaring all of your income in the previous post. This time, I’d like to bring up the idea of engaging in certain practices that I personally find questionable. At the top of my list: hiring family members to work for you so that you can make some tax savings because of medical health insurance and wages. Here’s one source which actually suggests these two points. One, it suggests hiring your spouse as an employee. As the [Read more…]
