I’ve mentioned hiring your spouse as a great tax strategy, but let’s not forget the amazing benefits of hiring your kids in your business! 🙌
(Get the entire, step by step strategy here)
Here’s why more parent entrepreneurs are jumping on this strategy:
1️⃣ Tax Savings – When you pay your kids, you can deduct it as a business expense, potentially lowering your tax bill.
2️⃣ Tax-Free Income for Them – Kids can earn up to $13,850 tax-free (2024) when hired legally and correctly, meaning more money for them and less taxable income for you.
3️⃣ Early Financial Lessons – Giving them real-life work experience teaches them the value of money, work ethics, and budgeting.
4️⃣ Retirement Growth – You can start contributing to their retirement early, setting them up with an incredible financial head start.
If you’re a parent entrepreneur wanting more time freedom and a financial boost for your family, this strategy could be a game-changer! If you’re interested in learning more about legally hiring your kids and creating generational wealth, click the link below!
To make sure you do this correctly, get the entire step by step strategy right here >>
#ParentEntrepreneur #FamilyBusiness #TaxStrategy #GenerationalWealth
