How To Hire Your Kids To Immediately Reduce Your Taxes! (Step-by-Step)

Hiring Your Kids Tax Strategy Explained! Save THOUSANDS by Hiring Your Children.
You can get a $14,600 tax deduction for each child you hire in your business.
And, if you follow the steps that I am about to show you, the income will be tax-free to the child.
I recently helped a client save over $18,000 in taxes from hiring his children in his business and if you stick around, you will learn exactly how you can do the same thing.
If you have kids under the age of 18 and a business, then you can take advantage of this.
As a father, I can tell you - kids are expensive. We spend thousands of dollars to support our kids.
We pay for childcare, clothes, school supplies, extracurricular activities, college savings and so much more.
But instead of YOU paying for those things, what if you simply paid your child to do a job, and let them pay for those things?
That way, you can deduct the payments to your child and save money in taxes. But this is a right way and a wrong way to do this correctly.
And I am going to walk you through the correct way to do this, as a licensed CPA that saves clients millions from strategies like this every day at mycpacoach.com
So go ahead and save this video, comment below, and let's talk about hiring your kids
Why Hire Your Kids?: (0:00)
Tax Strategy Explained: (1:22)
Step 1 - Shift Income: (3:08)
Step 2 - Avoid Payroll Tax: (4:50)
When To Use FMLLC: (6:40)
Step 3 - Actual Work: (7:36)
Step 4 - Documentation You Need: (9:28)
Step 5 - Pay Reasonable Wage: (10:19)
Step 6 - Setup Payroll (11:13)
Payroll Discounts:
- ADP (Get 20% Off): bit.ly/adpmycpacoach
- Gusto (Get a $100 Gift Card): gusto.com/?referral_token=she...
- QuickBooks Payroll (Get 30% Off): bit.ly/qbmycpa
Apply to Work With a CPA: mycpacoach.com/contact/
Learn the tax game: mycpacoach.com/tax-saver/

[@h.jnguyen2939]

Thanks your channel so much, not just for tax season, but other subjects too!

[@mycpacoach]

Thank you! These comments keep me going.

[@Youtube207user]

Thanks! Calm and professional 👍 subscribed!

[@mycpacoach]

Thank you, I try my best!

[@cju4300]

Great information, and as always, clearly explained. Thanks !

[@mycpacoach]

Thank you! 🙏🏽

[@wealthcreationsconsultingi7201]

Thanks! Very clear and descriptive video as always

[@mycpacoach]

Thank you!

[@PYTU]

Is there earlier deadline filing on those two ?

[@mycpacoach]

Ideally, you would do this before year-end.

[@PYTU]

@@mycpacoach not by tax season deadline?