MJ Blog

Video Tips: Getting Your Kids into The Family Business This Summer Break

It's almost summertime! Ever considered hiring your kid to work for you? Assuming a child is suitable for the job, a reasonable salary paid to the child reduces the self-employment income and tax of the parents (the business owners) by shifting income to the child. Plus, if the business is unincorporated, children under 18 are not subject to payroll taxes.

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