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 IA 2440 Disability Income Exclusion, 41 127 Tax Iowa Gov 2021

Iowa Disability Income Exclusion 2021-2025 Form

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we use this strategy for our clients if they have children who are over the age of 21 then you can create what's called section 127 to issue reimbursement and you can reimburse your children up to $5,250 the reason the child has to be 21 and over because on the 21 for this particular tax strategy that child is considered an owner of the S corporation just like you so remember as an owner of an S corporation you do not get any fringe benefits besides the health insurance trick that we do a few more than 2% shareholder you can put a through aw2 get like almost a double dip deduction on that but other than that there is no French benefits as SS Corporation if you want more tax strategy content to help you the business owner save money on taxes subscribe to my channel till the next time

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