AB Law Blog

Have Kids? Hire Them In Your Business For Major Financial Savings

Have Kids? Hire Them In Your Business For Major Financial Savings

Bringing your kids into your business can lead to some helpful tax savings. Thanks to the Tax Cuts and Jobs Act (TCJA), these tax benefits are now bigger than ever. However, it’s crucial to ensure that if you hire your kids, they actually do real work, and you pay them fair wages. Otherwise, you might draw unwanted attention from the IRS. Some of the benefits of the TCJA will be expiring in 2025, so make sure to take advantage of these benefits this year while you can…

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