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Can I Pay My Children To Help With Rental Properties? [Tax Smart Daily 042]

A Short Read


Table Of Contents

    In the last video, we discussed how employing your children in your business can save you a lot of money in taxes. Is it possible to apply this to rental properties as well? Is it possible to pay your children to help you manage your rental properties? Find out in this video from The Tax Smart Real Estate Investors YouTube channel.

    Listen in to learn:

    • How you can compensate your children when you hire them to manage your rental properties
    • Where to deduct the wages that you pay your children

    Subscribe to the YouTube channel for more answers to real estate tax questions!

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    Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

    Mike Dymski - Business Owner