Hiring Your Children Tax Strategy - Boris Musheyev, Tax Adivosr

Discover the power of income shifting with our latest video, "Hiring Your Children Tax Strategy". If you're a business owner seeking innovative tax planning solutions, this video is a must-watch!
In this comprehensive guide, we delve into a highly advantageous tax strategy that allows business owners to shift income tax-free to their children. From explaining the basics of hiring your children, to exploring the legal frameworks of S Corporations, we cover all the vital information you need to optimize your tax planning and stay ahead of the curve.
Hiring children in your business is more than just a family affair. It is a strategic tax planning tool that can potentially save you thousands of dollars each year. Moreover, it is a unique opportunity to teach your children about business, finances, and instill a strong work ethic from an early age.
We will walk you through the process step by step, including the legal implications, IRS regulations, and the correct methods of documenting this strategy for maximum benefits. Our expert tax advisors share their insights based on years of experience in tax strategy, making this video an essential resource for business owners navigating the complexities of tax planning.
If you're a business owner operating an S Corporation and you're not utilizing this strategy yet, you're likely missing out on significant tax savings. Whether you're new to tax planning or an experienced business owner seeking advanced strategies, this video is designed to provide you with the information you need.
Learn about this tax strategy today and unlock new potential for tax savings and wealth creation for your family. We look forward to guiding you on your journey to smarter tax planning.
🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know bit.ly/download7TaxWriteOffs
☎️ Schedule your FREE Tax Advisory Session - www.TaxPlanningCall.com/
➡️If you make $10 Million or more in your business; Schedule your call here: ☎️ bit.ly/over10million
🤩 If you are looking for a really easy-to-use payroll software, I personally use and recommend to my clients Gusto Payroll Software - gusto.com/r/boris466
P.S. When you sign up for Gusto, you get a $100 visa gift card 🤑
My Personal Recommended Tax Strategy Playlists:
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• When is the Best Time ...
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*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your own attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

[@borismusheyevcpa]

WOW, Hiring Children Tax Strategy! Hope you enjoyed it! Check out some resources here (expand to see more): 🆓 Download FREE PDF: 7 Write Offs Every S-Corporation Business Owner MUST Know bit.ly/3DPw5UZ ☎ Schedule your FREE Tax Advisory Session - www.TaxPlanningCall.com/ Also, I put together some recommended videos. I strongly recommend every business owner to watch this. Just watching these alone will help you save money on taxes, RIGHT AWAY. And please, do your self a favor, get a Tax Advisor! ➡ Business Owner Pays Tax On S-Corpporation Distribution - kzbin.info/www/bejne/iqjZc515jMqYotk Watch this video to learn how to NOT pay taxes on your distributions from S-Corporation. ➡ Pass-Through Entity Taxation - kzbin.info/www/bejne/ap69aGWofLeqaNU I urge every business owner to know about this TAX. These taxes will ACTUALLY help you pay less in taxes. ➡ Home Office Tax Deduction - kzbin.info/www/bejne/n57Ho62Obcuipbs In this VIDEO, I break down how the IRS allows you to use your home office EVEN if you already have another work location. ➡ Tracey, our Tax Advisory Client, Saved over $49,000 on taxes in 2022. - kzbin.info/www/bejne/l3LKfGdmjtamrdU In this video, I break down the exact strategies we use for our clients to pay less in taxes.

[@kevingillin5476]

You always bring the goods Boris! Fantastic info and excellent presentation skills! Keep the videos coming! I watch every one of them!

[@borismusheyevcpa]

Thank you! I appreciate you!

[@michaelmcfarland7662]

Thank you for the video very informative.

[@laparo3]

Great information. Thanks!

[@aileenmarfhall2682]

❤Great advise Boris

[@MarkLeeTampa]

In the video, you mentioned a "list of things your children can do" and noted it would be in the description. I do not see it/any link. Also, great videos!

[@georgesooley9232]

Yep looking for this

[@IrvingDzulD]

Never stop posting videos please. This is entertaining and informative which is something that we don't often get.

[@borismusheyevcpa]

Ok I will try not to stop :)

[@AmandaRodriguezCrook]

Thanks for info!

[@01corey]

good advice, thanks

[@blueshieldpowerwashingfl]

Great info

[@user-lq8fx5yc9q]

Good info to know!

[@borismusheyevcpa]

Yea it is!

[@streetpreaching3807]

Your great thanks

[@borismusheyevcpa]

You're welcome!

[@mariafernandayanezvalarino3904]

I like the way you explain everything! Thanks. My question is if I am a Sole proprietor ,Do I have to pay my chield trought a payroll systems or Can I pay directly to her bank account ?

[@wattsobx]

Great Video. Can you point me to why we dont have to issue a w2 to our kids in the single member LLC from a parent? (assuming they are getting paid under the limit). I get very conflicting answers on this

[@BLamarche1]

Good deal. Thanks for the tip….

[@borismusheyevcpa]

U welcome!

[@tilustax]

Very good info! Thanks a

[@borismusheyevcpa]

Glad it was helpful!

[@MiteshSura]

Thank you for sharing all the great information. Any suggestions on which bank/credit union to go with? Most require a joint bank account, would that work for payroll?

[@jccharly2000]

great stuff!! My kid is 17 and going college this fall, is there an age limit? What if they are in college? Thx.

[@CryptoQueen8888]

ADP said they can not put a worker under 18 years old on payroll. Ao how do we pay our kids?? Thank you.

[@CryptoQueen8888]

I called ADP about this and they said the kids have to be 18 years old.

[@seftalibebek3355]

@Borismusheyevcpa I love your videos, and learned so much. I hope to work with you. I have a quick question: Can you do 1099 for your kid, instead of W2 if you have an S Corp?

[@ty3mom]

Can I pay my child as a 1099 contractor instead of payroll for Project based work. My 16 year old is an aspiring video editor and an EXCELLENT proofreader. So I’d want to pay him on a project basis instead of payroll. He’s not as consistently working because he’s in school.

[@petrahandrigan6497]

Up to what age? 18? What if they are in college?

[@streetpreaching3807]

Wouldn't I need work comp for the kid And what about child labor law

[@SuperStaley]

Would I be able to open a Roth IRA for my child if I follow this ? Thank you

[@borismusheyevcpa]

Yes u can! Watch this video I made about ROTH for kids: kzbin.info/www/bejne/aqm0g36Fl5d-m9Efeature=shared