Rich families hire their kids to do office work like cleaning and bookkeeping, paying them wages that fall in the 0% tax bracket. This shifts income from post-tax to pre-tax dollars and cuts the family's overall tax bill, as long as the work is documented and real.
Yeah, we think taking advantage of home office deduction. If our kids are doing work for us, let's put them on payroll. They can be at the 0% tax bracket for the standard deduction amount. So like my kids, we're in a 15,000 square foot office building. They clean that for us. We own it. My oldest daughter pays some bills and does some bookkeeping and that type of thing. And so we pay her for it. And so it's like, I would rather my kids spend, you know, basically pre-tax dollars versus my post-tax dollars. So we're just looking for opportunities like that. And we document all of it. It has to be legitimate.
