Family Employment Documentation System
Employing your own child produces a real tax benefit and a real documentation burden, and the second is what stops most families from claiming the first. Qualifying turns on the integrity of your process rather than on the act of hiring family. Was the employment authorized as a business decision before the first payment? Were the duties, the wage rate, and the approval recorded in writing? Can you show the hours worked, the work performed, and the payments made? Without contemporaneous records, a well intentioned arrangement can be disallowed.
This system supplies every one of those records, built and ready to fill.
Seventy fillable instruments span two hundred eighty seven pages and carry six thousand two hundred sixty three form fields. Each one is numbered by its lifecycle position. Reading the folder from the top walks you through the working year in the order the year actually happens. Phase one carries the written consent authorizing family employment and the family employment policy. Phase two prepares the hire through thirty eight job descriptions, four versions of the wage determination memorandum, the offer of employment, and the orientation plan. Phase three runs the working year through forty one job checklists across four age bands, sixteen job logs, and the payroll change form. Phase four closes the year with the ceiling review note, the year end file index, and the professional review record.
Two workbooks come with the instruments. The Oakhaven Payroll Suite holds seventeen sheets, three thousand two hundred sixty nine cells, and two thousand four hundred sixty four formulas. It runs biweekly across twenty six periods for six family employees and computes Social Security, Medicare, and federal unemployment tax from your entity type, the relationship, and the age on the pay date. It will not compute a payment for a period nobody approved. The Hire Your Kids and Family Workbook adds fifteen tabs of planning and research.
The Family Employment Playbook explains the reasoning behind each requirement and ties every rule to the authority that supports it, with the date that authority was verified. Nothing asks you to take a requirement on faith.
This listing is the documentation layer on its own. To add real time hour logging, checklist stamping, and automatic ceiling tracking on a phone, choose the Complete Family Payroll Documentation System with KidEquity App instead.
Oakhaven Bedrock Investments, Inc. is a product development company. We are not a law firm, a certified public accounting firm, or a tax preparation service, and nothing here is legal, tax, or accounting advice. Employing a minor is governed by federal and state labor law. Confirm the rules that apply where you operate before the hire.
