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I read parts of a book in the 1980's, Wealth Without Risk. If I remember correctly, the author suggested starting a small business to save lots of money-- using business-related trips for vacations, hiring your children for the business and deducting their salaries instead of just giving them an allowance.This does make sense. You could choose a conference near the beach or Disney World or Disney land. If you do a road trip with the family in the car, you can deduct the gas. If you don't hire your kids, you couldn't deduct all their tickets flying in. I was just imaging a business where you have a website-- just about any business-- and you use your kids as models for photos. One person in the family could be the photographer. If you don't want your kids in photos, they could be hand models. It makes sense if you use the photos for legitimate business purposes. You could take a trip to the Rockies, or to the beach or whatever and deduct that. Any extra nights you stayed for fun, you could pay yourself, but legitimately write off transportation.What are the child-labor laws for hiring your kids? Can you hire your kids for a sole proprietorship for things you could not hire them for if you had an LLC?As I recall, child actors are exempt from some of the child labor restrictions. Do you happen to know if child models are as well? Some of this type of information would be good to teach in a small business class, too. But I am not an expert on tax rules, and I did not take advantage of all of them-- especially about children-- when I was a small business owner.. Does anyone involve their family in a small business.As far as 'child labor' goes, that sounds negative, but I think our culture has swung too far in the direction of not having the kids do anything. Many of them do not learn to work and do not have a lot of practical skills. They are expected to study and just do light chores. The ones who grow up on farms probably learn to be harder workers, but farmers are rare these days when farms are so large and percentage of farmers is so small, so it's hard to tell

It isn't if it is a legit business, which it can be. I ran my construction company as a sole proprietorship. Sole proprietorship is the heart of 'very small business.'But yes it can be sorta shady. I have friends who are dentists and I don't think they have ever taken a vacation that was not 'WORK' related. One many times has rented another dentist's empty chair to clean their girl friends teeth at the destination place..Well, imma guessing that preaching/speaking at a destination church just might work..... just thinking out loud! Some facts but mostly just my [email protected]/

When the gov't has a million and one tax rules, there will be loopholes. That is on them. If I can, I ALWAYS interpret the tax laws in my favor--after all, you can be sure the IRS is NOT going to interpret them in my favor. I am not talking about rules/laws where there is no room for interpretation. But if there is room for interpretation, then interpret it in YOUR favor.It is not FRAUD to do this. In fact, it's kind of foolish NOT to, since if the gov't wants to have a tax code so massive that there are loopholes, then we should take advantage of them.Consider also that the wealthy can afford to pay tax lawyers to do just what you and I might be able to do if we are brave. (NOTE: My wife is very timid about the IRS--and she eventually forbade me from addressing my returns to the Infernal Revenue Service.)It is tax EVASION that is the issue, not tax reduction. Every year or so, Consumer Reports gives the SAME TAX INFORMATION to several different tax preparers. They ALWAYS wind up with as many answers as there were participants. I'm supposed to figure it out when trained tax people can't? Indeed, I WILL figure it out...in my favor.Worse, if you call the IRS and one of their customer service people gives you the wrong information, YOU ARE STILL LIABLE FOR THE TAXES!

My rich brother asked me who did my taxes, I said I do! He said Jack you cnnot do your business taxes. I kept telling him, 'I can read and follow instructions as good as the next person.'He said (as if talking to a child), Find a CPA, give him your books and ask him if he can pay his salary.I did that, all ready to laugh at my brother, until the CPA called me ans asked if I would pay him $500 to get me $5000 back. I didn't have to think on that.But my mind went back to President Nixon. One year his taxes were listed and he had paid $750. I was a low paid guy at the time, but I had paid $2000 that year.

Which thing do you consider to be tax fraud? Hiring your kids for your own business? If doing so were not allowed, why would the IRS have a page like this? www.irs.gov/businesses/small-businesses-self-employed/family-help.It turns out there is a tax break for unearned income, but children of parents who own sole prioprieterships' wages are not subject to social security or unemployment witholdings. So there is a little break there. Do you consider it tax fraud to go to a conference near the beach, take your family, and deduct the gas for travel to the conference and a hotel room that would have been the same price with or without the family? I think it would be foolish not to in some cases. The government really squeezes small business owners who have to pay self-employment tax. They are expected to keep track of their expenses. And it is

Yes many young people get hit the same way. Both my sons are self employed. One keeps meticulous records, the other is slip shod. Yesterday he said, I have all my taxes caught up....... well except I still owe 2017!I will be shocked when he actually 'Gets caught up.' Some facts but mostly just my [email protected]/