1 rich Libsyn https://www.libsyn.com 90 600 Discover how to legally hire your family members in your business and save thousands in taxes! In this video, I reveal: ✅ How to pay your kids up to $15,000 tax-free (IRS approved) ✅ The 10-step process to hire family members 100% legally ✅ Turn kids' activities into legitimate tax deductions ✅ Tax benefits of putting your spouse on payroll ✅ How to set up Roth IRAs for your children's future This strategy saved my family thousands in taxes while keeping more money in our household. Perfect for small business owners, entrepreneurs, and self-employed professionals looking to optimize their tax situation. 🔽 RESOURCES MENTIONED 🔽 Payroll company I use: https://teachingmillionaires.com/recommends/gusto My previous video on Roth IRAs for kids: https://youtu.be/0HLopzcUBFQ My video on spouse travel deductions: https://youtu.be/KHpO2JNR4NM 📖 Chapters 00:00 How to Keep More Money in Your Family While Paying Less Taxes 01:07 Tax Benefits of Hiring Your Kids (Up to $15,000 Tax-Free) 02:37 Setting Up Roth IRAs for Long-Term Tax-Free Growth 02:54 Tax Benefits of Hiring Your Spouse 04:19 10-Step Process for Legally Hiring Family Members 06:34 How to Turn Kids' Activities into Legitimate Tax Deductions 07:52 How to Get Started Today 08:58 Beyond Tax Savings: Building Family Wealth #TaxStrategy #FamilyBusiness #IRSApproved ⚡️ Connect with Rich: ▶️ Subscribe for weekly financial insights: https://teachingmillionaires.com/youtube-subscribe 📱 Follow on Instagram: https://teachingmillionaires.com/instagram ✖️ X: https://teachingmillionaires.com/twitter 📘 Facebook: https://teachingmillionaires.com/fbgroup 🌐 Website: https://teachingmillionaires.com 🎧 Apple Podcasts - https://teachingmillionaires.com/apple-podcast 🎧 Spotify - https://teachingmillionaires.com/spotify-podcast 👥 About Rich Smith: Rich Smith helps individuals and business owners optimize their wealth through smart financial strategies. With expertise in tax incentives and wealth preservation, Rich breaks down complex financial concepts into actionable steps. 📌 This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. I am not a financial advisor. The information I share is for educational purposes only and shouldn't be considered as certified financial or legal advice. It is imperative you conduct your own research. I am sharing my opinion only. Teaching Millionaires https://TeachingMillionaires.com <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/35996695/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/daa520/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/item/35996695