Did you know you can hire your kids in your business?
If your kids are between the ages 7-17, you can hire them to do tasks in your business, and pay them a wage, just like you would any other employee.
The benefit of hiring your kids is that you don’t have to pay payroll taxes on them!
In addition, your family may realize some significant tax savings by shifting income from the parents to the children.
This is a great tax planning strategy for parents who have their own business.
Click here to learn more about hiring your kids in your business!
