Apr 22, 2019
In episode 149 of Financially Simple, Justin looks at how to approach putting your spouse on your business’s payroll.
There can be a number of benefits to having your significant other working for you at your business. Justin goes over some of the reasons and legal ways to improve both your benefits, deductibles and taxes.
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ARTICLE TRANSCRIPT: BLOG: Hiring A Spouse as An Employee - A Smart Option with Many Benefits
01:02 - Should I Put My Spouse on the Business Payroll?
03:00 - To Maximise Your 401k
06:49 - Health Insurance Benefits
10:34 - Social Security Benefits
16:20 - Legally deduct Travel Expenses
16:54 - Group Disability Insurance
17:32 - Buying a Third Vehicle
17:54 - Reduce Your Company’s Taxable Income
18:03 - Spouse’s Education Expenses
18:57 - Wrap Up: The Employee Spouse
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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