Wondering how to keep your kids busy during the summer months? If you\u2019re a small business owner with older children, you might want to think about bringing them onto the payroll. While we\u2019re not advocating for making your kids work 40 hours a week, a little time at the family shop or office can be an invaluable experience for your child\u2014and a lucrative one for you. \u00a0Here are some reasons to hire your child this season:<\/p>\n
1. You Can Teach Her Strong Values.<\/strong><\/p>\n It\u2019s tough for children to learn good work ethics if they never hold down part-time jobs. When you hire your kids at your small business, you can start teaching them the value of working for the things they want. Additionally, teens that work for their parents \u2013 rather than the local Dairy Queen, for instance \u2013 learn what it means to dress professionally and communicate with adults in an office setting. \u00a0Plus, you can monitor your child\u2019s work hours to make sure time spent at the family business isn\u2019t interfering with her study schedule.<\/p>\n 2. You Can Save on Taxes.<\/strong><\/p>\n If your tax bill is taking a toll on your business, you might want to think about hiring your child this year instead of an extra employee. If your son or daughter is under 18, and you\u2019re operating as a sole proprietor or LLC, you aren\u2019t required to pay social security or Medicare taxes. \u00a0For best results, make sure your child is only doing work related to your business \u2013 not completing chores around the house. \u00a0The last thing you want is the IRS questioning your employment practices come April.<\/p>\n 3. She Can Save on Taxes, Too.<\/strong><\/p>\n Just as you can save big on taxes by keeping it in the family, so can your son or daughter. Thanks to the Standard Deduction, adults and teens don\u2019t have to pay federal taxes on the first $6,300 they earn each year. \u00a0Your child can put this money away for college or even use it for a future home purchase.<\/p>\n 4. She Can Find Her Future Career.<\/strong><\/p>\n Is your child unsure about what her professional future holds? Hiring kids is a great way to give them a feel for the family business before they head off to college. After all, you don\u2019t want your teen to spend four years of her time \u2013 and your money \u2013 earning a business degree she doesn\u2019t end up using. \u00a0By bringing your child into the office, you give her a chance to try out the career by experiencing the daily tasks and responsibilities.<\/p>\n 5. You Get to Guide Her<\/strong><\/p>\n Now a days no matter which subjects they study in school or college, there is something there to be learnt on the job.\u00a0 Older children can certainly help with data entry, data verification, developing documentation, software testing, performing calculations, conduct basic market research, and prepare reports.\u00a0 All these are essentials business tasks that will help them eventually prepare for their career.\u00a0 One big plus of having them work with you, is you can observe, guide & coach them so that when they get a job after graduating, the skills\u00a0& knowledge gained\u00a0are readily immediately applied.<\/p>\n Contact accurants <\/strong><\/p>\n We\u2019ve created a one-of-a-kind tool that lets you manage and monitor budgets, track employee hours, pay invoices, and assess customer buying behavior in a single location.\u00a0\u00a0The benefits of having all these features are numerous, whether you hire your child or an independent\u00a0contractor, tracking their time & payment are critical items that you can be very easily handled in accurants software suite.\u00a0 accurants generates the Schedule C automatically by compiling data already entered, making tax time a breeze for your small business.\u00a0 For more information about our services, call today or sign up online for a free trial.<\/a><\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Wondering how to keep your kids busy during the summer months? If you\u2019re a small business owner with older children, you might want to think about bringing them onto the payroll. While we\u2019re not advocating for making your kids work 40 hours a week, a little time at the family shop or office can be […]<\/p>\n","protected":false},"author":1,"featured_media":6815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,9],"tags":[48,65,117,139],"class_list":["post-229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-tax","tag-deductions","tag-hiring","tag-small-business","tag-tax-benefits","entry","has-media"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"\/wp-content\/uploads\/sites\/2\/2016\/07\/Hiring-your-Child-for-your-Business.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/posts\/229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/comments?post=229"}],"version-history":[{"count":1,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/posts\/229\/revisions"}],"predecessor-version":[{"id":7638,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/posts\/229\/revisions\/7638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/media\/6815"}],"wp:attachment":[{"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/media?parent=229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/categories?post=229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/accurants.com\/blog\/wp-json\/wp\/v2\/tags?post=229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}