30 Important Tax Tips You Must Know to Reduce Your Taxes! - #14 Should You Pay Your Kids
Tip #14: Should You Pay Your Kids? When you hire your children, you can get a business tax deduction (for employee wage expense). However, you need to make sure that you give them an accurate description of the job they’re going to do, if they’re able to perform it, and how to fill out timesheets so you can avoid getting in trouble with the IRS.
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