Dos and Don'ts of Hiring your Child

Wealth Minded MD

チャンネル登録者数 29人

0 回視聴・いいね・ 2025/05/14

Dos and Don'ts of Hiring your Child

Hiring your child might sound unconventional, but it can be a smart tax-saving strategy when done right. In this episode, we cover everything you need to know about hiring your child as an employee for your business—from the benefits of shifting income from a higher tax bracket to a lower one, and the tax deductions that come along with it to the detailed guidelines on age-appropriate tasks, industry-standard wages, documentation, and payroll systems. We also highlight the long-term perks of earned income, like opening a Roth IRA for your child. Tune in to learn the essential dos and don’ts of hiring your children effectively and responsibly.

[00:10:03] How To Hire Your Children For Your Business
[00:24:21] Understanding IRS Guidelines for Hiring Your Child
[00:24:47] Payment Strategies And Task Allocation For Child Employees
[00:25:15] Tax Benefits, Hiring Rules and Compliance for Employing Children
[00:28:46] Business Structures and Tax Implications of Hiring Your Child
[00:33:53] Maximizing Financial Benefits Of Employing Your Child
[00:38:46] Dos and Don'ts of Hiring Your Child

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