Family members are often seen in the Nat Geo Wild veterinary shows performing work for their veterinarian parents. Adding children to veterinary clinic staff can help build skills and ensure veterinarians get home at a decent time. These articles explain the tax benefits of hiring family members.
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In 2024, the standard deduction for individuals is $14,600. So, everyone, including your kids, can earn up to $14,600 without owing any state or federal tax. In addition, if your kids are younger than 18, their wages are not subject to Social Security or Medicare taxes when working for their parents. It must be a bona fide employer-employee relationship.