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What are the tax benefis of hiring your children vs contracting them out?

In: Jobs, Taxes and Tax Preparation, Labor and Employment Law, Income Taxes, Hiring and Retention [Edit categories]

Answer:

You can get all involved with things like this...but, especially if they are minors, it makes no difference except makes your reporting harder.

I think its fair to say that every method of shifting income to lower bracket children has been well explored and the laws well in force to prevent it.

First answer by IamLostRU. Last edit by IamLostRU. Contributor trust: 1567 [recommend contributor ]. Question popularity: 1 [recommend question].

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