Stop Giving Your Kids Money. Hire Them Instead. Here's Why (NEW 2026 Rules!)

Learn how to turn your kids into employees and save in taxes. Get a Free Tax Assessment: https://mycpacoach.com/free-tax-asses... In this video, I explain how parents can potentially deduct wages paid to their kids, how the 2026 standard deduction can allow children to earn income tax-free, and how this strategy can create significant tax savings for the entire family. You'll learn the five key IRS requirements for hiring your children, and how custodial accounts and Roth IRAs can be used to help your them build wealth while maximizing the benefits of this strategy. If you're a business owner, freelancer, contractor, or self-employed individual looking for legal ways to reduce your tax bill, this is a strategy you need to understand. Go ahead and save this video, hit the like button below, and let's jump right in. #taxstrategy #taxplanning #smallbusinessowner #familybusiness Intro: (0:00) Tax Savings: (0:46) Deduction Benefits: (1:29) Managing Funds: (2:21) Requirement #1: (3:13) Requirement #2: (4:00) Requirement #3: (5:11) Requirement #4: (6:06) Requirement #5: (6:53) DISCLAIMER: The information provided on this channel is for general information and entertainment purposes only. It is not intended to serve as legal, financial, or tax advice. You should not act on the basis of any content included on this channel without seeking appropriate legal, tax, or other professional advice specific to your individual circumstances.