When your kids are younger, there are things you can do with an accountant that allow for payroll, IRA’s, and other benefits that help the business and your children.
As a father, I want to be able to provide my kids with a “backup plan” as my parents had done for me. A place for them to work if they want it.
Having the opportunity to bring your own children into a family business is a true privilege.
When I was younger, my parents hired me on without really knowing what would happen next. They gave me the option from when I was little and around 23 years old I needed it.
It wasn’t about locking me into a path; it was about opening doors, giving me a foundation to build from. I had a place to learn, make mistakes, and try my hand at things I probably wouldn’t have elsewhere.
There are moments, as a parent, where you picture your kids growing up, building their own lives, and stepping into roles you never thought you’d be able to offer them. For many of us, our business is that place—a backup plan, a chance to work side-by-side, learning and growing together.
Of course, there are unique challenges to hiring your own children.
Bringing family into a business can blur lines, especially when it comes to balancing parent-child relationships with employer-employee roles.
Will they take the work seriously?
Will it change our relationship at home?
These are thoughts I sometimes wrestle with. There’s a lot of pride, but there’s just as much complexity. Every day working with family comes with its rewards, but it also brings a few questions that we can’t always anticipate.
So, while we parents try to build something lasting, hiring our kids isn’t just about filling roles; it’s about building bonds that go beyond the business itself. And maybe that’s the best part of all—the chance to watch our children grow into their own, whether they stay on or forge their own paths.