"Paying" Your Child

[EntropyControlSpecialist]

Could anyone provide me with more information on how you "pay" your own child for helping out in the daycare (in the form of housing, cell phone plane, extracurricular activities they participate in, etc.) and add this to your taxes?


I have an almost 17-year-old that helps but I have not been doing this, although his usage of the cell phone is completely dependent upon him helping as are various events he participates in. Those things are his "pay."

[TomCopeland]

Hiring own children

To deduct expenses for hiring your own children involves following a series of rules. See my article on this:http://www.tomcopelandblog.com/hirin...y-members.html

You can compensate your children for their work by buying them items such as a cell phone, but not by paying for his housing.