If you’re a business owner, you can pay your children $13,850 (tax-free) and deduct it from your own taxes (legally). Here’s how:
by TonyLiberty By doing this, you can legally reduce your taxable income by $13,850 and avoid paying tax on that amount, plus your child will owe $0 taxes on that amount, and you can also invest $6,500 of that in a tax-free Roth IRA. (When you employ your children it’s s a business expense and …