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Want to Keep More in the Family? Here’s One of the Most Powerful Tax Strategies Business Owners Overlook: Income shifting. It’s not complicated. It’s just smart. ✅ Take income that would normally be taxed at your rate, ✅ Shift it to your kids—who are in a lower tax bracket. ✅ Legally reduce your entire family’s tax burden. Here’s how: If you own a business, you can hire your minor children—yes, legally. They must do real work (age-appropriate, of course), but that could mean: 📸 Appearing in marketing. 📁 Stuffing envelopes. 🧮 Light admin work. 💻 Helping with content creation. And now the good part... In 2025, the standard deduction is $15,000. So if you pay your child up to $15,000/year: 🟢 They pay zero income tax. 🟢 You get a deduction. 🟢 No FICA (Social Security or Medicare). 🟢 No self-employment tax. 🟢 No unemployment tax (if under 18). Once they turn 18? FICA applies — but income tax may still be avoided if they’re under...
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