This is exactly what I'm curious for - I don't want to do it if it is illegal in any way. Do you know which jurisdictions? Or do you have any document that would explain illegality of it? Or do you have some personal experience/professional knowledge about it?“It seems that the only remaining question is what kind of taxes do we have to pay if I end up paying them some symbolic salary for taking care of my baby.“
A symbolic salary to scheme extra benefits could considered fraud in many jurisdictions. Be sure your CPA signs off on that.
I am asking because I wouldn't be surprised if it were illegal, but would be equally unsurprised if it were 100% legal, in which case I should definitely do it, right? After all, I do backdoor Roth and mega backdoor Roth conversion schemes each year with the goal of avoiding taxes, which is definitely legal in all jurisdictions, somehow. Then there's the scheme of transferring HSA money to Roth and spending it any way one wants, which is also legal... There are just so many examples like this.
Statistics: Posted by Regressor — Tue Mar 19, 2024 8:19 pm — Replies 37 — Views 3692