You could be paying your child as an employee as a way to increase your tax savings.
Does that sound a little too good to be true? We are here to tell you, it’s not!
In this episode, Barry Watts explains how you are able to set your child up as an employee for your company earning an income that will allow you to spend pre-tax dollars on them! Barry goes into detail about how this unique strategy works and why few people are taking advantage of it!
You will learn:
- How you can implement this strategy into your business
- Who is eligible to take advantage of the tax deduction
- At what age your child is eligible to participate in this strategy
- Barry’s suggestions on what your child could be doing for your business to make them considered an employee
- How this strategy could be set up to give your child savings for the future
- And more!
Tune in now to equip yourself with information that could help you use pre-tax dollars on your child’s expenses!
Resources: SavingYouTaxes.com | J. Barry Watts
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