There are many ways a business own can benefit by hiring family members to fill vacant positions in a company. Not only does your business get to write off the person’s salary as a business expense, but the recipient also gets taxed at a lower rate.
For kids, working in a family business can offer them important lessons about developing a good work ethic, managing money and gaining important employment experience.
We encourage you to read the full article written by JASmith on the benefits of hiring from within your family circle and other ways to split income with family members.
CLICK HERE TO READ THE FULL ARTICLE >>