23d • General discussion
STRATEGY 2: Pay Your Kids (Shift Income Efficiently)
What it is:
Pay children through your business:
Deduct expense
Child pays little/no tax
Who it applies to:
Business owners with children under 18
How to execute:
Assign real, age-appropriate work
Pay up to ~$17,500/year
Run payroll properly
Deduct wages
Key compliance points:
Maintain timesheets, job roles, and payment records
Risk:
If work is not legitimate or documented, wages can be disallowed.
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STRATEGY 2: Pay Your Kids (Shift Income Efficiently)
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