• #17: Hiring Your Kids: Tax-Saving Strategy or Really Risky Move?

  • Aug 22 2024
  • Length: 27 mins
  • Podcast

#17: Hiring Your Kids: Tax-Saving Strategy or Really Risky Move?

Listen for free

View show details

  • Summary

  • Maximize Tax Benefits by Employing Your Children: Key Strategies and Pitfalls

    https://www.natalie.tax

    https://www.incite.tax

    In this episode of 'Real Estate is Taxing,' host Natalie Kolodij delves into the strategy of employing your children in your business.

    She outlines the numerous benefits, including significant tax savings and the opportunity to fund a Roth IRA at an early age. Natalie also discusses crucial compliance requirements to avoid costly mistakes, such as treating the children as actual employees, paying reasonable wages, and issuing W-2 forms instead of 1099s.

    The episode provides essential guidelines to help business owners implement this strategy correctly and reap the financial advantages.

    00:00 Introduction to Real Estate Taxing
    01:41 Why Employing Your Children is Beneficial
    02:29 Tax Benefits of Employing Your Children
    08:17 Common Mistakes to Avoid
    13:50 Entity Types and Payroll Taxes
    14:55 Proper Documentation and Compliance
    23:59 Recap and Final Thoughts
    Show more Show less
Show more Show less
activate_Holiday_promo_in_buybox_DT_T2

What listeners say about #17: Hiring Your Kids: Tax-Saving Strategy or Really Risky Move?

Average customer ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.com reviews

Amazon reviews
No Reviews are Available