Send us a text What if you could pay your kids a salary, take a business deduction, and teach them real financial skills at the same time? In this episode, Mike Jesowshek, CPA, explains how to legally hire your children in your business, what the IRS actually allows, and how to do it correctly so you avoid audits and penalties. You’ll learn the rules for paying your kids under age 18, how to document their work, how much you can pay them tax-free, and how this strategy can double as a wealth-...
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Send us a text What if you could pay your kids a salary, take a business deduction, and teach them real financial skills at the same time? In this episode, Mike Jesowshek, CPA, explains how to legally hire your children in your business, what the IRS actually allows, and how to do it correctly so you avoid audits and penalties. You’ll learn the rules for paying your kids under age 18, how to document their work, how much you can pay them tax-free, and how this strategy can double as a wealth-...
Live Case Study: How We Cut $20K+ Off His Tax Bill (Step by Step)
Small Business Tax Savings Podcast
44 minutes
1 month ago
Live Case Study: How We Cut $20K+ Off His Tax Bill (Step by Step)
Send us a text What happens when you take a real small business owner, put them in the hot seat, and break down their tax strategy live? That’s what we’re doing in this episode. Eric runs a successful appraisal business, pays himself through an S-Corp, and last year wrote a $50,000 check to the IRS. Did he really have to? Mike digs into Eric’s setup and reveals how simple shifts could slash his tax bill. From adjusting his salary to using the Augusta Rule, hiring kids, and planning for real ...
Small Business Tax Savings Podcast
Send us a text What if you could pay your kids a salary, take a business deduction, and teach them real financial skills at the same time? In this episode, Mike Jesowshek, CPA, explains how to legally hire your children in your business, what the IRS actually allows, and how to do it correctly so you avoid audits and penalties. You’ll learn the rules for paying your kids under age 18, how to document their work, how much you can pay them tax-free, and how this strategy can double as a wealth-...
