Help From Our Kids

Paid jobs for my kids in real estate?

I normally blog about topics to help home buyers or sellers but today, it’s about helping your children (and your pocketbook if your a real estate professional). My wife and I feel that it’s super important to teach your kids work ethic and educate them about money as soon as possible so that when they get older, they will feel comfortable and confident around work and money. 

Owning a real estate brokerage company, there are tons of jobs that my kids help me with on a weekly basis. Not only is this fun for everyone, it’s also a legit way to help your kids grow wealth while saving mom and dad tax dollars. As of 2021, the IRS has a standard deduction if $12,500 which means that paying your child $12,500 or less means they will owe ZERO taxes on that money. I have 2 kids so that’s  $25,000 per year tax free. There are several additional strategies for your kids to compound that wealth and become millionaires by the time they have kids of their own but we won’t get into that. Your CPA can fill you in if your interested. 

Below are some “jobs” my kids help me with in my company. Keep in mind my kids are 4 and 6 however most of these jobs could be performed by any age child.

1. sending mailers (folding, stuffing, stamping)

2. making gift bags (candies and chocolates)

3. setting or collecting open house signs

4. staring in marketing pictures/videos 

5. cleaning office/desk 

6. filing/organizing expense receipts

7. distributing flyers/cards at events

8. Cleaning properties 

These are just a few my kids enjoy doing and they are always excited when they get the opportunity to have a purpose and earn some candy/toy money. If your self employed with kids and could use a tax break, what can your kids do to help?