New Book Details Tax Strategy for Small Business Owners to Hire Their Children

Keith Hall has released a new book titled 'Hire Your Kid' that presents a tax strategy aimed at small business owners and parents. The book explains how hiring one's children to work in the family business can lead to significant tax savings, potentially exceeding $5,000 per year. Hall's approach transforms everyday family expenses into legitimate business tax deductions by paying children a reasonable wage, which becomes tax-deductible for the business.

The book provides a practical guide that walks readers through the entire process. This includes creating a job for the child, filing the necessary tax paperwork, and fully utilizing available tax benefits. Hall draws from his 40 years of experience as a CPA, during which he has assisted numerous entrepreneurs in navigating complex tax situations. His strategy is designed to save money without imposing additional financial burdens on the business.

A key component of Hall's method involves using the tax savings to fund the child's future. The wages paid to the child can be directed into long-term savings vehicles such as a Roth IRA, providing a financial head start. The book also incorporates a personal element, as Hall shares his own experience implementing this strategy within his family. He emphasizes that the approach not only reduces tax liability but also strengthens family bonds through meaningful work and shared financial growth.

'Hire Your Kid' is structured to be easily digestible, offering straightforward steps for implementation. The book will soon be available in both print and digital formats. Hall's work aims to equip parents and small business owners with practical tools to save money while teaching children valuable life lessons about work and finance. The strategy represents a convergence of family values and smart financial planning, addressing both immediate tax concerns and long-term family prosperity.