We pay our kids—legally—up to $15,000 each per year

Michael ChangJul 11, 20250m 5s135.7K viewsScore 80
Pricing & Profitability
intermediate
Tax Strategy
Profitability
Bookkeeping
Expenses
M

Summary

AI-generated

This video discusses legally hiring your children in your short-term rental business. By doing so, you can get a tax deduction for your business and the income they receive is tax-free up to $15,000. This money can then be invested into a Roth IRA, allowing it to grow tax-free.

Key insights

  • You can pay your children up to $15,000 per year and it's a tax deduction for your STR business.

Mistakes to avoid

  • Ensure you are paying your children the right way and moving the money so it grows tax-free.

Tools & resources

  • Wealthy Guidecourse

    A guide that explains the system is available via a link.

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial