Did you know that hiring your child for your business can provide significant tax advantages? 

But it requires careful bookkeeping to get it right. 

Here's why it's worth considering: 

✳️ Your child can earn up to $13,750 in 2023 without owing any federal income tax. 

✳️ You can deduct their salary to reduce your taxable income. 

✳️ Your child can contribute up to $6,500/per year to a Roth IRA. It will be tax-free on withdrawals. 

✳️ If your child is under 18, you don't have to pay payroll taxes. 

✳️ If you do it right, you can potentially deduct your child's college education or other 

working condition fringe benefits as business expenses. 

For more details, please get in touch with us at https://www.anucpa.com/​​​​​​​