In this issue of Word to the Wise, we focus on summer jobs and the taxes you can expect to owe based on whether you are an employee, working for a family business, an entrepreneur or a domestic worker, such as a babysitter. In addition, we include articles on home offices and the tax consequences of virtual transactions.
As always, if you have questions about any of the topics in this issue or need assistance regarding your personal or business tax situation, please contact us.
DISCLAIMER: The WM Daily Update, COVID-19 Business Resources and COVID-19 Client News Alerts and other related communications are intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.