👴🏼 Hire your Dad instead of paying the IRS #shorts

4.1M viewsalmost 3 years ago0m 24sScore: 75

Sean Pan

Pricing & Profitability
beginner
Tax Strategy
Bookkeeping
Expenses
Profitability

Summary

This video explains the tax advantages of hiring a parent who is retired and has little to no income to help with your short-term rental business. You can write off the salary as a business expense, and the parent may not have to pay taxes on that income due to the standard deduction.