Under the new tax law, each child can earn up to $12,000 in earned income (salary), free of federal income tax. And amounts paid in excess of that are taxed at only a 10% rate on the next $9,526 and at 12% up to $38,700 in 2018. Thus, doctors can use this strategy to help fund college, graduate and professional school education costs while generating considerable tax savings.
In order to be tax-deductible, salaries...
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