07/15/2026
Hiring your kids can be one of the most effective tax planning strategies for the right business—but it’s not as simple as putting them on payroll.
The key is making sure they’re performing legitimate work, earning a reasonable wage, and that you have the proper documentation to support everything. Job descriptions, timesheets, payroll records, and proof of payment can make all the difference if the IRS ever asks questions.
When done correctly, this strategy can create meaningful tax savings while teaching your kids valuable work and financial skills.
Follow for more practical tax planning strategies every business owner should know.