))
Hiring Your Spouse & Kids: Big Opportunities and Big Mistakes to Avoid
Manage episode 488311687 series 3650791
Content provided by Dennis Horr. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dennis Horr or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Today we’re answering a smart question from a viewer about hiring a spouse or children in a family business. When structured properly, this strategy can create significant tax advantages and strengthen retirement savings. However, it also carries risks if not handled correctly. In this episode, Dennis breaks down how to use family hiring to reduce taxable income, fund retirement accounts like Roth IRAs and 401(k)s, and even begin succession planning.
Here’s some of what we discuss in this episode:
🏛️ Avoid costly IRS mistakes
💸 Fund Roth IRAs for your kids
🧾 Why written contracts are essential
🔁 Build a generational succession plan
Our website: https://www.401k.faith
Phone: (513) 898-1897
Contact our team: https://www.faith401kmgmt.com/contact_us/
Book an Introductory Meeting: https://www.faith401kmgmt.com/contact_us/
Check out our no-cost financial flipbooks here: https://www.faith401kmgmt.com/learning_center/flipbooks/
Join one of our upcoming events: https://www.faith401kmgmt.com/events.htm
Check out our online calculators: https://www.faith401kmgmt.com/learning_center/calculators/
Check us out on YouTube: https://www.youtube.com/channel/UCpuK6WuipFhXBxujjM6nl7g
Facebook: https://www.facebook.com/profile.php?id=100063561056644
16 episodes
Share
