Nicole Lapin
speaker
12,643 appearances
65 recordings
1 series
first heard Sep 2025
last heard yesterday
Nicole Lapin’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 62 in all, peaking in Oct 2025 with 11.
Appearances
She doesn't owe federal income tax on that money.
And my business gets a tax deduction for her wages.
And here's where I'm closing the loop.
The money is now in my daughter's name, where it can be used for her expenses, like
Private school tuition.
Instead of paying tuition with money that was taxed at your higher tax income bracket, you're potentially shifting income into a lower tax environment legally.
This is different from 529 plan contributions.
529 contributions could be used potentially in some states to pay for private school, but 529 contributions are made after tax and they're not tax deductible.
Now, of course.
First, there is an obligatory caveat.
Payroll taxes can differ depending on your specific business structure and your kid's age.
So this is absolutely something that you want to run by a financial planner first.
If you need one, you can reach out to our firm, Private Wealth Collective.
The link is in the show notes.
So beyond these accounts, here's something else that my husband and I did.
We took out a life insurance policy.
Becoming a parent is one way of forcing you to really.
Confront your own mortality in honestly, a way I was not expecting.
I've talked about my death way more since becoming a mom because it is a really heavy reality.
If something happens to me, my kids' financial future might disappear overnight.
Showing 1341–1360 of 12,643 · page 68 of 633
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