employkids
Hire your kids so they can retire millionaires
employkids – Simplify hiring your kids for real work and Roth IRA income
Summary: employkids automates the documentation required for parents to legally hire their children for age-appropriate work, enabling earned income that can be contributed to a Roth IRA. It organizes employment agreements, work logs, and payment records to ensure IRS compliance and ease tax reporting.
What it does
employkids manages hiring, work tracking, and payment documentation for parents employing their kids, producing a structured ZIP file of records for tax purposes. It supports both household and business work, keeping records separate for accurate reporting.
Who it's for
Parents who want to pay their children for legitimate work to generate earned income eligible for Roth IRA contributions, and business owners seeking payroll tax benefits from wages paid to their kids.
Why it matters
It solves the IRS documentation challenge that deters parents from using this tax-advantaged strategy, ensuring compliance and protecting contributions from disallowance or penalties during audits.