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hire your spouse

Add Your Spouse to Your Business

October 18, 20242 min read

Looking to make your next date night dinner with your spouse a tax write off?

 

Then, you're going to want to add your spouse to your business!

 

Before we get into the benefits of adding your spouse to your business—

 

Know that there are so many ways you can incorporate your partner into your business.

 

You can add your spouse as an:

 

♥️ Owner

♥️ Employee

♥️ Board of Advisors

 

But what are the benefits?

 

🏝 Travel Together on Business You and your spouses can travel together for business purposes. Think about it—every time you travel together for business, you can comfortably cover both your expenses as legitimate business expenses.

 

💰 Double Retirement Savings Both you and your spouse can contribute to retirement plans separately, doubling your retirement savings potential. This can provide greater financial security for both of you in the long run.

 

✈️ Annual Board Meetings You can invite your spouse to be on your board of advisors so they can participate in annual board meetings. This not only involves them in the decision-making process but also offers an opportunity for them to contribute to the business's growth and success.

 

🚘 Additional Vehicle Deductions You may also be able to write off an additional vehicle for business purposes. This can be advantageous if both you and your spouse require vehicles for business-related activities.

 

Whether leveraging tax advantages, maximizing retirement savings, or navigating the complexities of business ownership together, adding your spouse to your business has a list of benefits.

 

So, if you want to ditch the flowers and candy tomorrow and instead chat about tax strategy and retirement accounts….

 

➡️ ➡️ Schedule a call with us and we will run your numbers (if you qualify) to see how financially beneficial it would be for you to add your spouse to your business.

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