What is the name of your state?Georgia
The 60 year old manager of my store had a debilitating stroke 6 months ago. He has been unable to move or work since. I have kept him on at his regular salary. I want to continue to do this as long as I can, hopefully until normal retirement.
He was just approved for Social Security disability benefits, but they are a fraction of his regular pay. His accountant says that if I continue to pay him, he will lose these benefits. There may come a time when I cannot afford to keep him on, but I want him to "double dip" as long as possible.
What can I do? How can I structure this so as not to cause any problems? I want to do what is right, and he needs as much money as he can get and from as many sources as he can. I want to avoid the f-word (fraud) but continue to pay him while he draws disability.
I am the sole owner of the C corporation. He has many children, some still minors. I was thinking of drawing both salaries, paying the payroll taxes, and then "giving" him his normal take home, up to $11k, then "giving" it to his wife, then the children, etc. Would this cause problems for anyone involved?
There must be a better way. Thanks in advance for any and all suggestions.
The 60 year old manager of my store had a debilitating stroke 6 months ago. He has been unable to move or work since. I have kept him on at his regular salary. I want to continue to do this as long as I can, hopefully until normal retirement.
He was just approved for Social Security disability benefits, but they are a fraction of his regular pay. His accountant says that if I continue to pay him, he will lose these benefits. There may come a time when I cannot afford to keep him on, but I want him to "double dip" as long as possible.
What can I do? How can I structure this so as not to cause any problems? I want to do what is right, and he needs as much money as he can get and from as many sources as he can. I want to avoid the f-word (fraud) but continue to pay him while he draws disability.
I am the sole owner of the C corporation. He has many children, some still minors. I was thinking of drawing both salaries, paying the payroll taxes, and then "giving" him his normal take home, up to $11k, then "giving" it to his wife, then the children, etc. Would this cause problems for anyone involved?
There must be a better way. Thanks in advance for any and all suggestions.