We're sunsetting PodQuest on 2025-07-28. Thank you for your support!
Export Podcast Subscriptions
cover of episode 15 \\ Hire Your Kids and Slash Your Taxes: The Secret Strategy Every Business Owner Needs

15 \\ Hire Your Kids and Slash Your Taxes: The Secret Strategy Every Business Owner Needs

2022/12/21
logo of podcast SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions

SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions

Shownotes Transcript

Are you a small business owner with kids between the ages of 7 and 17? This episode is a must-listen! Discover how employing your children can reduce your taxes while teaching them valuable life skills and building a strong work ethic. We’ll answer listener questions and break down the steps to ensure you’re doing everything legally and efficiently.

Learn whether to pay your kids through your business or a family LLC, how to set up a Roth IRA for their earnings, and the paperwork you need to keep everything above board. This strategy isn’t just about saving on taxes—it’s also about making your business a family affair while giving your kids a head start on financial responsibility. Don’t miss this episode packed with actionable tips to save money and empower the next generation!

 

Next Steps:

💰Download: The Ultimate Guide to Reducing Taxes )💰

☎️ Are you overpaying in taxes every year?  Schedule a FREE discovery call) to find out!

📧 Contact Me --> [email protected] 

📲 Follow me on IG @ the.tiffany.p.cpa