How A Business Owner Can Reduce Taxes And Make Their Kid A Millionaire (Eventually)

Are you a physician who owns a practice and has children? This episode is for you. We are delving into the benefits of employing your children in your business and the opportunities provided by the IRS, such as decreased household taxes due to the lower tax rates applicable to children. Whether it’s managing social media or handling tech-related tasks, you will learn the importance of conducting all transactions by the book. If you haven’t considered paying your kids in your practice and they are of age, it is highly recommended to consult with your CPA to fully understand and leverage the powerful tool of compensating your children, while simultaneously gaining tax advantages.