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Sunchimes 12:13 PM 02-01-2019
My accountant had a question. I don't make enough to owe taxes, but I am still paying a fortune in quarterly taxes for SS and medicare. She is trying to find a way to lower that for us, and she thought maybe we could rent daycare space in our home to the daycare business. She said it was sort of a circular way to cut them, but she wasn't sure if it was allowed. She is looking at the IRS, but so far, she hasn't found anything. IF that isn't allowable, is there any other way to cut that? Husband and I are both over 65, drawing SS and Medicare, if that matters. Thanks.
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