> recommended employing your children starting from the age they are able to do household chores, which offers a double benefit of reducing a parent’s taxable income while building an investment-accruing tax shelter for the 7-year-old

In case anyone was wondering, you cannot reduce your taxable income by paying your child to clean your house (I am a former tax lawyer). Could you pay your teenager to work for your company, and reduce the corporate income? Yes, subject to child labor laws — and you still have to pay payroll and income taxes.

Alternatively, you and your spouse can just straight up give your kid $36,000 per year as a gift (with no deduction, but also no income/payroll tax burden).

Having a 7-year-old on the payroll seems like a great way to get audited.