How to Pay Your Wife Through Your LLC [Video]

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Many business owners decide that they want to add their wives to their LLCs at some point. But, one of the main things that a lot of these people struggle with is figuring out how to pay their wives correctly so that they can avoid trouble with the IRS. When it comes to paying your wife in an LLC, there are a number of different ways to do it.

In this video, tax expert Karlton Dennis breaks down exactly how to pay your wife in your LLC. He explains the different options for doing this including adding her as an employee, paying her as an independent contractor, or adding her as a member, or owner of the business. There is not one overall best option.

The option that is right for paying your wife through your LLC depends heavily on the particular circumstances of your business. The way that you decide to pay your wife through your business can have substantial tax and accounting implications. Karlton explains these in detail in this video.

CHAPTERS:
0:00 Intro
0:38 Adding Your Wife to Payroll
0:50 SPONSOR: Tailor Brands
1:46 Making Your Wife an Employee of Your Business
3:01 What are the Benefits of Adding Your Wife to Payroll
4:41 Hire Your Wife as an Independent Contractor
6:32 Make Your Wife a Member of Your LLC
7:58 The Bottom Line
8:32 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#llc #wifeonpayroll #taxplanning