I am often asked by business clients, “Is there any benefit to hiring my children in my business?” The answer is, “Absolutely yes!!!!”
Hiring children in a family business often provides valuable work experience to children. Many business owners would love to transfer a successful family business to the next generation. Starting early allows the children “get their feet wet.” The business owner can also assess whether the child has the ability and the desire to succeed.
But more than that, there are substantial tax benefits to hiring your children in a family business: Continue reading “Can I Hire My Kids in My Business? Absolutely!”