Know the Rules for Hiring Your Kids to Work in Your Small Business
Published Jun 06, 2023 ·
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Hiring your kids to work in your small business can be a great idea. You can teach them the value of a hard-earned dollar, and their compensation may be tax deductible, minimizing your business taxable income. Here are some things to consider…
- Make sure their pay is commensurate with their age, experience, and education. If their title is “manager”, make certain they are capable of and actually managing others.
- Paying your children an executive-level salary to sweep the floors is...
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