Day 7 – How to Hire Your Kid Legally — And Save Taxes

  Day 7 – How to Hire Your Kid Legally — And Save Taxes Hiring your child might sound like a sentimental idea, but it’s actually a strategic tax-saving move —if done right. The IRS allows business owners to hire their minor children under certain conditions, offering both tax deductions for your business and income tax benefits for your child . Here's how to make it work legally and efficiently. ✅ Why Hire Your Child? 1. Your Business Gets a Deduction Wages paid to your child are a legitimate business expense. That means your business income (and tax liability) goes down. 2. Your Child May Owe Zero Taxes As of 2025, a child can earn up to $14,600 (the standard deduction) without paying any federal income tax— as long as it’s earned income (i.e., wages, not gifts or allowances). 3. No Payroll Taxes for Some Businesses If your business is a sole proprietorship or a partnership where both partners are the child’s parents , and your child is under 18 , then: No Social S...
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Helping You Make Sense of Money — But Let’s Keep It Clear

Hi there! Thanks for stopping by — whether you're here for tax tips, budgeting ideas, or a fresh take on finances, I'm glad you're reading. But before we dive into the numbers, there’s something important I need to share with you.

🧾 From My CPA Desk: A Gentle Reminder

As a Certified Public Accountant, I care deeply about helping people make smart, informed financial decisions. But — and this is important — the content you read here is for general educational purposes only.

It’s not tailored to your unique situation, and it’s definitely not a substitute for professional advice specific to your tax return, business, or financial plan.

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The short version:
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The longer version:
While I do my best to keep content accurate and helpful, laws and tax codes change — sometimes quickly. I cannot be held liable for any errors, omissions, or decisions made based on this blog’s content. Use your judgment, and when in doubt, get advice customized to your needs.

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