If you’ve ever thought about putting your kids to work (on the payroll, that is), here are practical tips and some fun stories that might just inspire you to take the plunge. You could end up saving money and setting up your kids for financial success down the road!Hey there, and welcome back to the "Empowering Entrepreneurs Podcast" with Glenn Harper and Julie Smith! This episode gets into something a lot of business owners have wondered about, but maybe haven’t really dug into—can you actually pay your kids for helping out in your business? And what does that mean for your taxes?Glenn breaks down all the nitty-gritty IRS details and shares some smart ways to shift income, save on taxes, and teach your kids about money at the same time. Plus, Julie Smith adds her take on the real-life lessons kids get from rolling up their sleeves in the family business.This episode is brought to you by PureTax, LLC. Tax preparation services without the pressure. When all you need is to get your tax return done, take the stress out of tax season by working with a firm that has simplified the process and the pricing. Find out more about how we started.Key takeaways for business owners:Tax-smart payroll: Paying your kids through your LLC or as a sole proprietor can offer major tax advantages, as you may avoid the extra 15% in employment taxes that corporations require.It's not just about taxes: Beyond dollars and cents, bringing your kids into your business teaches them real-world financial skills, from how payroll works to the power of compounding through Roth IRAs.Documentation and legitimacy matter: The IRS requires any payments to be reasonable for actual work performed—think marketing help, filing, or even social media management. Keep it legitimate!Running a business doesn’t have to run your life.Without a business partner who holds you accountable, it’s easy to be so busy ‘doing’ business that you don’t have the right strategy to grow your business.Stop letting your business run you. At Harper & Co CPA Plus, we know that you want to be empowered to build the lifestyle you envision. In order to do that you need a clear path to follow for successOur clients enjoy a proactive partnership with us. Schedule a consultation with us today.Download our free guide - Entrepreneurial Success Formula: How to Avoid Managing Your Business From Your Bank Account.Glenn Harper, CPA, is the Owner and Managing Partner of Harper & Company CPAs Plus, a top 10 Managing Partner in the country (Accounting Today's 2022 MP Elite). His firm won the 2021 Luca Award for Firm of the Year. An entrepreneur and speaker, Glenn transformed his firm into an advisory-focused practice, doubling revenue and profit in two years. He teaches entrepreneurs to build financial and operational excellence, speaks nationwide to CPA firm owners about running their businesses like entrepreneurs, and consults with firms across the country. Glenn enjoys golfing, fishing, hiking, cooking, and spending time with his family.Julie Smith, MBA, is a serial entrepreneur in the public accounting space. She is the Founder of EmpowerCPA™, Founder of PureTax, LLC, COO for Harper & Company CPAs Plus, and Co-host of the Empowering Entrepreneurs podcast. Named CPA.c