Why You Might Want to Consider Putting Your Children on Payroll Accountant Mark Kohler explains how putting your kids to work for your business can result in a sizable, and legal, tax write-off.

By Mark J. Kohler

Opinions expressed by BIZ Experiences contributors are their own.

Yes, you can legally add your children to your company's payroll, according to attorney and accountant Mark Kohler. Different rules apply depending on the age of your child:

Children age 18 and older: If they are away at college, consider declaring them as part-time employees with 10-99 status for a tax write-off. If they work more hours and have dedicated office space, you may have to make them full-time employees.

Children younger than age 18: Make sure they are legitimately working for your business, Kohler says, and to pay them from a sole proprietorship -- not a corporation.
Mark J. Kohler

BIZ Experiences Leadership Network® VIP

Author, Attorney and CPA

Mark Kohler, M.PR.A., C.P.A., J.D., is a highly respected Founding and Senior Partner at KKOS Lawyers, specializing in tax, legal, wealth, estate, and asset protection planning. With a reputation as a YouTube personality, best-selling author, and national speaker, Kohler is dedicated to guiding clients through complex legal and financial landscapes to achieve their American Dream. He also serves as the co-founder and Board Member of the Directed IRA Trust Company and has launched the Main Street Certified Tax Advisor Program to train CPAs and Enrolled Agents nationwide. As the co-host of The Main Street Business Podcast and The Directed IRA Podcast, he simplifies intricate topics like legal and tax strategy, asset protection, retirement, investing, and wealth growth. Mark Kohler's commitment to helping BIZ Experiencess and small business owners attain success and financial security has made him a trusted expert in the field, benefiting countless individuals and businesses in navigating the financial and business world with confidence.

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