Mon Apr 22 2024, by Tyler Gardner

Child Labor LawsTax DeductionsSmall Business TipsFinance AdviceLegal Money Strategies

Unconventional Money Tip: Legal Child Labor for Small Business Owners

Hey dad, could you give me a money tip that seems unethical but is completely legal? Of course. Child labor.

What? Just hire your 10-year-old to work for your small business.

That's legal? As long as the job is not hazardous, the child is paid fairly, and the job is appropriate for their age, they're good.

How does this benefit you? I get to deduct your pay as a business expense. You get money, I get money, we get money.

Where did you learn this? I just follow Social Cap. He makes complex finance seem easy.

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