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When Can I Hire My Kids In The Business?

When you run a small business, you often look for almost any tax deduction that you can take off your bottom line that has a legitimacy when it comes to filing your taxes. For most business owners, there is always a blurred line between your personal life and your business life. Often, your children end up getting involved whether it comes to running errands, filing papers, or even assisting with your company Facebook page. So, the big question is when can your hire your children in the family business and how do you document this when it comes to filing your taxes? I truly believe that one of the most underutilized tax deductions for small business owners is getting their children engaged in the family business. By placing children (or even grandchildren) on the payroll who are under the age of 18, you can create a great opportunity to take advantage of something called income shifting. Your company can hire ...

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