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  Day 7 – How to Hire Your Kid Legally — And Save Taxes Hiring your child might sound like a sentimental idea, but it’s actually a strategic tax-saving move —if done right. The IRS allows business owners to hire their minor children under certain conditions, offering both tax deductions for your business and income tax benefits for your child . Here's how to make it work legally and efficiently. ✅ Why Hire Your Child? 1. Your Business Gets a Deduction Wages paid to your child are a legitimate business expense. That means your business income (and tax liability) goes down. 2. Your Child May Owe Zero Taxes As of 2025, a child can earn up to $14,600 (the standard deduction) without paying any federal income tax— as long as it’s earned income (i.e., wages, not gifts or allowances). 3. No Payroll Taxes for Some Businesses If your business is a sole proprietorship or a partnership where both partners are the child’s parents , and your child is under 18 , then: No Social S...
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How to Change Your Corporation’s Business Address in California

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🏢 How to Change Your Corporation’s Business Address in California

Changing your business address as a California corporation? Great! Just don’t forget: you’ll need to update it with multiple government agencies to stay compliant — not just one.

Here’s a step-by-step guide to make sure your new address is properly recorded with the California Secretary of State, the IRS, and other important state and local agencies.

Let’s break it down 👇

🏛️ Step 1: Update Your Address with the California Secretary of State

Every California corporation is required to file a Statement of Information (SOI) — and that’s the easiest place to update your business address.

✅ File Form SI-550 (or SI-CID, if applicable)

  • Domestic stock corporations should file Form SI-550

  • Common Interest Developments (like HOAs) should use Form SI-CID

You can update:

  • Your principal business address

  • Your mailing address

  • Your officer/director addresses

  • Your agent for service of process (optional)

📌 File Online Here:

👉 https://bizfileonline.sos.ca.gov

💰 Filing Fees:

  • $25 if you’re doing your regular annual filing

  • FREE if you're just updating the address between annual filings

🏦 Step 2: Notify the IRS

The IRS needs to know about your move too — especially since they send important notices and tax documents by mail.

✅ File Form 8822-B

  • This is the official Change of Address or Responsible Party form for businesses

  • Must be signed by an authorized corporate officer

🗓️ Deadline:

File within 60 days of your address change

📬 Where to Mail:

  • It depends on your state (California businesses usually send it to Ogden, UT)

  • Full instructions are included on the form

📄 Download it here:
👉 Form 8822-B (PDF)

🏛️ Step 3: Confirm with the California Franchise Tax Board (FTB)

While the FTB often picks up changes from the Secretary of State, it’s still smart to proactively confirm your address has been updated.

📞 Option 1: Call

  • FTB Business Hotline: 800-852-5711

✍️ Option 2: Send a Written Notice

Include:

  • Your business name

  • EIN

  • Old and new addresses

  • A signature from an authorized person

Mail to:
Franchise Tax Board
PO Box 942857
Sacramento, CA 94257-0500

🧾 Step 4: Update with Other Agencies (If Applicable)

Depending on the type of business you run, you might also need to notify:

🧑‍💼 Employment Development Department (EDD)

If you have employees:

🛍️ California Department of Tax and Fee Administration (CDTFA)

If you have a seller’s permit or collect sales/use taxes:

🏙️ Your Local City or County

  • Most cities (like Los Angeles, San Francisco, San Diego) require you to update your business license (BTRC or similar) when you move

  • Check your city or county’s business tax office website

✍️ Quick Summary Checklist

✅ Step📌 Task🧭 Method
1️⃣File Statement of Informationbizfileonline.sos.ca.gov
2️⃣File IRS Form 8822-BMail to IRS
3️⃣Confirm with Franchise Tax BoardCall or mail a letter
4️⃣Update with EDD, CDTFA, city/countyOnline or via form, depending on agency

Final Thoughts

Changing your business address isn’t difficult — it just takes a little coordination. By checking off the agencies above, you’ll avoid missed notices, penalties, or compliance headaches later on.

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