Did you know that it is legal under federal law to hire your children to work in a parent's business at any age? 

But you need to do it the RIGHT way.

Are you a family business owner looking to hire your children, save on taxes, and grow their wealth? 

The Hiring Your Kids Toolkit is the ultimate resource for legally and efficiently integrating your kids into your family business while maximizing tax benefits and setting them up for financial success in the future.
 
Watch the video to learn more about the Hiring Your Kids Toolkit!

Video Trainings

Step-by-step how-to video trainings on hiring your kids for maximum tax savings.

These video trainings are bite-sized and can be binged in less than the time it takes to get your kids to put on their shoes.

A Hiring Your Kids Checklist

To help you streamline the process of onboarding your child into your business with our Hiring Your Kids Checklist.

This comprehensive checklist simplifies the hiring process and ensures you don't miss crucial steps, from getting a valid ID for your child to setting up a separate bank account. By following this checklist, you save time and ensure that your business remains compliant with relevant laws and regulations.

Tax Savings Cheat Sheet 

Unlock maximum tax savings with our handy Tax Savings Cheat Sheet. This tool will guide you on how to take advantage of legal tax deductions and strategies available when hiring your children.

Understanding these tax benefits can potentially save your business thousands of dollars each year, funds that can be reinvested into your business or your child's future.

Guide to Setting Up a Family Management Company

This guide makes the process of setting up a Family Management Company easy, providing a detailed step-by-step guide and explaining why this could be beneficial for your tax planning. 

A Family Management Company can help you optimize your tax savings when hiring your children in an S-Corporation, C-Corporation, or a company that has multiple partners.

Paying Your Child Guide

This resource offers practical advice on determining fair wages, setting up a payroll system, and maintaining accurate payment records. 

It ensures your business stays compliant while giving your child a tangible reward for their hard work.

Child Tax Requirements Calculator

This tool will provide you with an easy way to understand your tax requirements based on your child's earnings and age.

No more guessing or worrying you are missing something - just enter the details and let the calculator do the rest!

Roth IRA Calculator (or as we call it the Make Your Child a Millionaire Calculator)

Explore the power of compounding and early investment with our Roth IRA Calculator.

By showing how much a Roth IRA could potentially grow over time, this calculator offers a glimpse of your child's possible financial future.

Start early, contribute regularly, and watch your child's financial future unfold.

Work Activity Log

Maintain accurate and compliant records with our Work Activity Log. This template makes it easy to document the tasks performed by your child, their hours, and their compensation.

Keeping detailed records is crucial for tax compliance and demonstrating that the work your child is performing is legitimate.

Plus These Contracts!

✓ Family Employment Contract Template. Make it official by having an employment contract between your child and your business or Family Management Company.

✓ Family Management Company Service Contract Template. If you are a Corporation, use this template to create an agreement between your Family Management Company and your Corporation to get the best tax benefits.

Understanding State Labor Laws for Youth

Here’s what you get:

• Join Jamie Trull for a training video all about State Labor Laws and what you need to know to understand what they mean for your business. 
• State-by-State Labor Law Guide: this invaluable guide lists the Summary of Youth Labor Laws by State as a reference to you and your business as you hire your kids. 

Please note that our guide is based on publicly available information and direct state communication. However, many state child labor laws focus on preventing exploitation and may not clearly address family businesses. We recommend carefully reviewing the guide and consulting your state for specific questions.

How to Hire Your Grandchildren Guide

Here’s what you get:

• Guide on How to Hire Your Grandchildren: Learn the steps needed to legally hire your grandchildren (or other non-child family member).
• Tips for Hiring a Family Member who isn't a child, including how to maximize your tax benefits and set up a Roth IRA if desired. 

Teaching Your Kids About Money Management Bonus Lesson

Here's What You Get: 

• Join my son Miles as he shares all that he has learned over the years about how to manage his money. See firsthand some fun ways he spends his earnings, ways he gives back to others, and how he stays motivated to invest in his future.
• Watch with Your Kids: This is a perfect lesson to watch with your kids of any age to get them excited about saving and investing!

Replay of 4 Office Hours with Jamie Trull

Here’s what this means for you:

• Replay Access: You’ll receive a searchable replay of each Office Hour session from Summer 2024 to watch at your convenience, ensuring you don’t miss out on any valuable information. You can even search all the questions that were submitted to see if any of them are similar to your own.