Tag's: Hiring your child – lifestylecpa.com lifestylecpa.com/blog/hiring-your-child/ Hiring your children is a great way to shift income and reduce your overall tax burden. Your children must do real work fo

Hiring your children is a great way to shift income and reduce your overall tax burden. Your children must do real work for the pay they get. Your children are paid at their tax rate which is most likely lower than your tax rate. Children who earn wages are not subject to the kiddie tax rule. Another upside of hiring your children is you do not have to pay social