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Do you really need a family management company to hire your kids, or is it just another layer of complication you don’t actually need? In this video, CPA and financial educator Jamie Trull breaks down exactly when a family management company (FAMCO) might make sense—and when it’s totally unnecessary. Whether you’re a sole proprietor, an S-Corp, or somewhere in between, this video will help you figure out the right way to pay your kids through your business while staying compliant with IRS rules. Ready to learn more about hiring your kids? Grab your spot for my upcoming Hiring Your Kids 101 Masterclass: https://jamietrull.com/Masterclass // ABOUT ME Hey! I’m Jamie Trull, CPA & Profit Strategist, here to help you with the tools & resources to get you informed, organized and profitable with your business finances. 🛍️ Work with me: https://jamietrull.com/shop 📚Author of Hidden Profit https://jamietrull.com/book // WATCH THESE OTHER VIDEOS NEXT // The right and wrong way to hire your kids: • This Tax Strategy Could Save You Thousands... Will you save on taxes if your kids are owners of your business?: • Will you save on taxes if your kids are ow... // FINANCIAL TOOLS & SYSTEMS I LOVE (plus special deals!) // 💸 Best Payroll: https://jamietrull.com/payroll 🏦 No Fee Business Banking: https://jamietrull.com/banking 📚 DIY Accounting: https://jamietrull.com/accounting 💳 Best Business Credit Cards: https://jamietrull.com/creditcards // CHOOSE YOUR ADVENTURE // 🔎 Discover Your Money Superpowers https://jamietrull.com/quiz 📈 Create your PROFFIT Plan™: https://jamietrull.com/PROFFIT ✅Savvy S Corp Owner Masterclass: Getting Your Salary Right. https://jamietrull.com/Salary 👪 Kids On Payroll Masterclass: Save Taxes and Set Your Kids up For Financial Success: https://jamietrull.com/Masterclass 🔥 S Corp Switch Masterclass: Is it the Right Move for Your Business This Year? https://jamietrull.com/Switch 🚀 Guide to Reducing Taxes for Business Owners https://jamietrull.com/taxsavings 📅 Ultimate Checklist to Organize Your Biz Finances https://jamietrull.com/checklist 🔗 Oh! And follow me: Website: https://jamietrull.com/ Instagram: / jamie.trull Facebook: / balancecfo Free Community: https://jamietrull.com/group Blog: https://jamietrull.com/blog **DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor. #familybusiness #hiringkids #jamietrull