How To Hire Your Kids in Your Business For Tax Savings

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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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I never comment on videos. But I’ve literally binge watched every video on your channel and they’ve been extremely helpful!

mitchellbrown
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Is there a minimum age limit on child on payroll?

dennisseo
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I currently have 2 business credit cards (sole proprietor ), I just received EIN # Can I add the EIN to these cards and remove my SSN? What can I do ?

Notwithoutmyheels
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Can you do a video on single member vs multi member LLC? I have questions about how to pay members and how taxes are filed. Thank you!

cinthiaprado
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You're the most official person I found

cfarrow
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Super cool. Can’t wait for my little ones to get old enough to capitalize on this.

cleangreenlawncare
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Thank you for all the information. Great content! Can you follow-up with a white board example $100K including this deduction?

tonishawilliams
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what is the min age to hire your child?

bernidettecollins
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What form if any is need when you are paying the kids and also having them fund Roth IRA?

rachellivingston
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Bro you gotta do a follow up video and answer some of these questions! Lol I'm looking to start my own business in March and I have 3 little ones that I would like to hire using this strategy!

bennyblaze
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If I am a s corp can I pay my daughter and wife with a 1099? I never set up a family management company last year.

NinoAmerica
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So just to confirm. If I am making 80k a year and pay my child 12k a year for duties for the business I only have to report 68k to the IRS and my child does not have to file a tax return since it is under the amount that must be reported is that correct?

michaelfowler
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@ THIS RATE I'M GOING TO HAVE TO QUIT MY JOB PACK IT UP AND COME LIVE W/YOU SHEEEESH!


So much to learn ...

antoniodmack
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What if we live oveseas and my kids are US citizens. I want to pay them w2. Is this more complicated since we have a overseas address? or it's just not that complicated? I want to start getting my kids to start working in my co.

aliawells
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Do child labor laws not exsist? Like we have the work permit at 15 1/2. Wouldn't want feds coming after me for employing minors.

Mybrothafromanothamotha
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I started my kid on payroll last year doing some very easy admin task

aarchez
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Thought you have to report a 1099 to anyone receiving more than $600? Why are kids exempt?

johnpeterson
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Want to be my remote accountant? lol I feel so ripped off lol! My kids could have been saving me money all these years, rather than costing me money haha!

CurioCreativeAgency
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Great content, can you mention some "work" that a 2-year-old can do as my employee?

MiamiGeneralContractor
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Hold up!!!!
You tell people how to something u never done yourself? 🤔

gagestormborn