Hiring your kids = major tax savings? Let’s break it down. 👨‍👩‍👦💵Paying your kids through your business can be a powerful tax-saving strategy—if done correctly. Not only can it reduce your taxable income, but your child may also pay little to no federal income tax on what they earn. But this only works if your child is doing legitimate work, you're paying a reasonable wage, and you're following the right IRS rules. Welcome to Ask Anthem: The podcast where we break down complex tax topics for Business Owners and Families. In this video, we break down everything you need to know before cutting that first family paycheck.ABOUT ANTHEM:For over 40 years, Anthem has been serving businesses across the Pacific Northwest & beyond. We navigate the tax hurdles, so you can keep what you earn.ALL OUR LINKS & SOCIALS:https://linktr.ee/anthembusinessstrategistsGET IN TOUCH WITH US:[email protected]https://anthemstrategists.com/contact/