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Does Hiring My Children Work for A Child Over Age 18?

April 29, 2020

Does Hiring My Children Work for A Child Over Age 18? If you are paying children (or grandchildren) over the age of 18, the child can still earn up to the amount of the standard deduction $12,200 (2019) before they owe any income tax. That’s because of the IRS’s standard deduction that everyone gets. The...

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Hire Your Child To Save Up to $4,560 in Taxes.

April 21, 2020

As a business owner hiring your kids is an excellent way to pay them up to $12,000 (currently) and in most cases your business gets to write it off. What do you need to know? In 2018 and beyond you can pay your child, under 18, up to $12,000 and it will be 100% tax free to them. At the highest tax bracket, that is...

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