jeffmcpa2010
Level 11

I paid both of my kids to do copying and filing during tax seasons, Paid a wage I felt I could justify, and reported on all the payroll tax returns I was required to file. I also "gifted" them an amount equal to their W-2 which was contributed to a Roth IRA. Each of them worked for me for around 5 years, and now close to 40, they have significant ROTH balances. The compounding of getting retirement accounts started at 13 or 14 years of age is incredible.

I don't remember the ratio - But a good chunk of each paycheck went into savings...

I had no other employees, so I didn't have any benefit issues to deal with.