Family Payroll Toolkit
This standalone download gives you a clear, practical way to understand (and structure) a compliant Family Payroll strategy within your business. When children perform legitimate, age-appropriate work, wages can be paid through formal payroll — and those wages may help reduce your business taxable income and potentially lower your Adjusted Gross Income (AGI), which is a major driver in financial aid calculations.
Included in your download:
- Quick-start guide (plain-English explanation + IRS requirements)
- 47 Kid-Powered Business Tasks list to help you assign legitimate, age-appropriate work
- Child employee job description template (editable Word document)
- Timesheet / work log template to document tasks, hours, and supervision
- Bonus guide: “What If I Don’t Own a Business?” — practical insight into how some high-income families have structured existing skills, consulting work, or hobbies into legitimate, IRS-compliant business entities.
Who this is for
- Business owners who want to pay children for legitimate work in a compliant, documented way
- Parents planning ahead (freshman/sophomore years are ideal) who want to understand how AGI affects aid
- Families who prefer a simple, “hand-this-to-my-CPA” toolkit
Important note
This resource is for educational purposes only and does not constitute tax, legal, or financial advice. Always review implementation with a qualified tax professional who understands your specific situation.
Instant access: You’ll receive immediate access to the download after purchase.