If you have children under 18 that receive an allowance or do chores, you owe it to yourself (and your child) to check out this brilliant tax savings strategy. It creates a snowball effect from deducting the wages in your business to saving federal (and FICA!) taxes on your return, to creating tax-free retirement benefits for your child decades from now.

We're diving into the nitty-gritty details so you stay on the right side of the IRS and get this right the first time.

BONUS! For more info and downloadable resources, check here.

It is not what you do for your kids, but what you have taught them to do for themselves that will make them successful human beings. -Inspired by Ann Landers