Tax day: 8 top tax breaks for parents on tax deadline

As tax deadline looms, parents are looking for as many tax breaks as possible.

6. Pay your child a salary

If you have your own business, pay your children and write their salary off as an expense. They get taxed at their tax rate, so it’s a savings for the family. Yes, you can do this.  There are a bunch of rules, though – the kid actually has to work, for instance; and no, you can’t send them to the coal mines – so check out some websites before you put Junior on the job.

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