🧒🏻💸 Hire your kids to save on taxes! #shorts

A secret hack that many business owners do is hire their kids to save on taxes.

📈 When you hire your kids, you save on taxes in two ways.

💰 The first is by deducting the salary from your taxes. At a 35% tax bracket, a $12,950 results in an approximate $4,500 that you DON’T have to pay to the IRS!

😎 The second way is because your kid will get that money tax-free because they can wipe out their salary with a standard deduction!

You need to make sure that the job you hire them for is legitimate and that you are complying with all legal requirements.

📸 But an easy role for them to have is to be a model for your presentations and advertisements.

When you hire your kids, you keeping the money in the family instead of giving it to the IRS!

🤔 What are your thoughts about hiring your kids?

Disclaimer: Not financial advice. Any investment commentary is my opinion only.

#taxes #moneyhacks #taxstrategy

[dinonugsvr]

“ I follow Sean and Sharon, they make tax evasion easy”

[brandonking]

As a Canadian, I've just googled a lot of the terms I learned on Sean's videos followed with "in Canada". I'd say a good 90% of this content is still relevant for Canadians.

[tonicalx]

As a 13 year old in a job, I can say this is true

[olivermaollo]

I love how the painting in the background changes to little timmy saying hello everybody 😂😂

[kavyajain]

Now i know why my dad made me model for his uniform catalogue

[PhantomFlameYT]

"Team, I'd like you all to welcome our newest member, Lil' Timmy!"
*There being 3 people in this room*

[szxcrab]

"hey kids, wanna learn how to commit tax evasion?"

[inept]

Remember kids, the only difference between tax evasion and tax avoidance isn't ethical but rather whether or not the law currently covers it

[shadowflare]

me : child

others : sir it's legal

[deanarguello]

Love the background saying “HI EVERYBODY” with him picking his nose lol

[Hiimjen]

I like how the picture in the background just change when he said he will put his son's face on all of their products

[DaSt__]

The background in the end: HEY EVERYBODY!

[wimeatsworld]

If you're getting a wife, get yourself one that reacts "Oh, juicey!" when you tell her you're going to minimize taxes rather than a "fair share" one.

[mexicangoldfish]

My family actually does this and the kids aren’t actually “working” but we are written off as employees. It has probably saved us upwards of 100, 000 on taxes

[ayetun]

Yall see him in the back saying HEY EVERYBODY

[penguinpro]

Okay now I'll know this tip if I ever move to America, have a kid and start my own business over there

[caffeinelover]

Sean: I'll use his photo all over the marketing company

*Timmy appears behind him*

[syedmaaz]

I love how later on the picture in the back changes into timmy

[aringelblade]

*Me watching this video like I am actually a businessman and not a minimum wage employee*

[scottlemiere]

Timmy is a dependent and does not get the standard deduction.