Tips to Minimize                             the Kiddie Tax

If you’re considering transferring assets to your children or grandchildren, it’s important to understand the “kiddie tax” rules. 

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KWC specializes in providing tax, audit, accounting, business consulting services and client advisory services (including outsourced accounting, virtual CFO services, internal control analysis, accounting systems analysis and design) for businesses, individuals, estates, trusts, non-profit organizations, and employee benefit plans. Our diverse client base served includes industries such as professional service firms, government contractors, non-profits, real estate, construction and specialty contractors, and healthcare providers. KWC is the CPA firm clients trust in Alexandria, Arlington, Fairfax, Tysons Corner, Springfield, Arlington, the Richmond Metropolitan Area, Northern Virginia, Washington, D.C. and Maryland.

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Tips to Minimize the Kiddie Tax

Tips to Minimize the Kiddie Tax

The "kiddie tax" prevents parents from shifting income-producing assets to children to take advantage of their lower tax rate. It was introduced as part of the Tax Reform Act of 1986. Before this law, high-income parents and other family members could divert some...

KWC Welcomes Millikan CPAs to Our Richmond Office

KWC Welcomes Millikan CPAs to Our Richmond Office

KWC Certified Public Accountants (KWC) announced Millikan CPAs will be joining the firm’s Richmond, Virginia office.   “We are excited to welcome Marian Millikan and her staff to our Richmond office,” said Connie Hammell, Managing Principal at KWC.   “Their combined...