The Kid Wealth Plan™
Build Wealth for Your Child — The Smart, Legal Way
Most families don’t realize a child’s part-time income can create significant tax-advantaged—and potentially tax-free wealth. Business owners, in particular, can legally employ their children.
Whether you own a business or your child has a job, there’s an opportunity most families miss.
Even if your child is not currently employed, there are still planning strategies available to begin building tax-advantaged savings for their future.
We help structure it the right way—so your child’s earnings can grow into long-term wealth.
Example: A teen earning and investing $2,500/year for 10 years could grow to over $1,000,000 by retirement.*
Time is the advantage. Strategy is the key.
Find out how this works for your family. Schedule a Consultation today.
*This is a hypothetical example for illustrative purposes only. It assumes an 8% average annual return and is not guaranteed. Actual results will vary based on market performance and individual circumstances.
The Kid Wealth Plan™
The Kid Wealth Plan™ is a simple, powerful strategy to turn your child’s earnings and/or savings into long-term financial growth.
The Kid Wealth Plan™ helps families take advantage of something most people overlook: a child’s ability to earn income or savings and invest it early. Whether through a family business or part-time work, children can legitimately earn money—and when structured properly, that income becomes the foundation for long-term wealth.
For business owners, this may include employing your children in real, age-appropriate roles. For other families, it may come from part-time jobs, summer work, or self-employment. The key is that the income is legitimate and documented. Once earned, that income can often be taxed at a lower rate and—more importantly—used to unlock powerful investment opportunities.
The next step is where the real impact happens: investing early and consistently.
The Kid Wealth Plan™ integrates several proven tools, including:
Roth IRAs for long-term, tax-free growth
529 Plans and ESAs for education funding with tax advantages
“Trump Accounts” (IRC §530A) as an additional tax-advantaged savings option
UTMA accounts for flexible, long-term investing
Each of these plays a role, but the strategy is not about any single account—it’s about coordinating them into one cohesive plan.
What makes this approach so effective is time. Starting early allows even modest contributions to compound significantly over the years. Just as important, it teaches children work ethic, financial discipline, and long-term thinking—skills that extend far beyond the dollars invested.
The Kid Wealth Plan™ is designed to help families build smarter from the start—legally, strategically, and with a long-term vision in mind.
The Kid Wealth Plan™ is a service/brand of Cichowlas Law, PLLC. This material is for informational purposes only and does not constitute legal or tax advice.
Strategic Child Employment Law Guidance
Andrij B. Cichowlas, Esq. has more than 25 years of legal experience. A cum laude graduate of Pace University School of Law in White Plains, New York, Andrij is a licensed Attorney in NY, NJ and CT. He is committed to helping families plan for their children’s future growth, financial security, and overall well-being, with a focus on legal and tax structuring rather than investment advice. His practice focuses on practical, forward-thinking legal strategies designed to help families make smart decisions today that can benefit the next generation for decades to come.
Andrij works closely with families and small business owners to develop lawful and effective ways for children to participate in family businesses. By advising parents on the legal and tax considerations of employing their children, establishing retirement and education accounts, and implementing long-term financial planning strategies, he helps families turn real-world work experiences into valuable opportunities for teaching responsibility, saving, investing, and building long lasting financial independence.
Andrij is also fluent in Ukrainian.
We offer a No-Cost initial telephone consultation. Call now!
Hire Your Children. Reduce Taxes. Build Family Wealth.
Business Owners: Build Tax-Free Wealth for Your Child—Legally
The tax code allows you to legally pay your children for real work in your business.
You may be able to take a business deduction—while your child begins building tax-advantaged savings.
Example (Illustrative Only)
Your child earns $10,000 for legitimate work (marketing, photography, social media, or age-appropriate office tasks).
You may also be able to contribute $2,500 to your child’s “Trump Account” (beginning July 2026).
At a 22% tax bracket, a $12,500 deduction could result in approximately $2,750 in tax savings.
Where the Money Can Go
$7,500 → Roth IRA (tax-free growth and qualified withdrawals)
$2,500 → 529 Plan (tax-deferred growth; tax-free when used for qualified education expenses)
$2,500 → “Trump Account” (tax-advantaged; subject to applicable rules and eligibility requirements)
The Big Picture
When implemented properly over time, these strategies can create substantial long-term, tax-advantaged wealth for your child.
We help you structure and implement these strategies in a compliant and effective manner based on your specific circumstances.
With over 25 years of experience, we provide strategic legal and tax solutions to protect your assets, reduce taxes, and secure your family’s future—done right the first time.
Helping Families Navigate New York Child Performer Work Permit Requirements
Parents of young actors, models, and performers must obtain proper authorization before a child can legally work in New York as a Child Performer. We assist families in navigating the legal requirements for child performer work permits and related documentation. and record-keeping.
Our firm helps ensure that applications, supporting materials, and employment arrangements comply with New York Child Performer Education and Trust Act, allowing children to pursue creative opportunities while families remain fully compliant with state regulations.
Helping Families Turn Work into Wealth for Their Children
At Cichowlas Law, PLLC, we have over 25 years of legal experience. Andrij B. Cichowlas, Esq. is licensed in NY, NJ and CT.
We help small business owners legally employ their children and turn earned income into long-term wealth.
We also help families whose children have a part time job to convert that income into powerful, long-term wealth.
When a child invests earnings into a Roth IRA, or other tax advantaged account, even small amounts can grow dramatically over time thanks to compound growth. All it takes is time and discipline.
See how powerful starting early can be.
$150 a month for 50 years at 8% becomes over $1.1 million. (This example is for illustrative purposes only; actual results will vary based on individual circumstances and market conditions.)
Click below and see for yourself.
The Magic of the Roth IRA. A Roth IRA allows a child’s earnings to grow tax-free for decades, making it one of the most powerful tools for building lifelong wealth from an early start.
Empowering Business Owners: Legally Hire Your Children Today
At Cichowlas Law, PLLC, we help New York small business owners turn their family businesses into powerful tools for building their children’s financial future. We guide families through the legal rules for employing their children while implementing proven wealth-building strategies using accounts such as the Roth IRA, Education Savings Account, 529 plan, and Trump Accounts. We also assist families with New York child performer work permits and related compliance requirements. Our goal is simple: help your business create opportunity, savings, growth, and long-term security for your children.
Essential FAQs for Small Business Owners: Unlock the Benefits of Hiring Your Children
Please complete the form below. We will contact you shortly.
Disclaimer: Attorney Advertising Important Legal Information
Attorney Advertising | Important Legal Information
The information provided on this website by Cichowlas Law, PLLC is for general informational purposes only and does not constitute legal advice. You should not act or rely on any information on this website without first seeking advice from a qualified attorney regarding your specific situation.
No attorney-client relationship is created by your use of this website or by contacting us through it. Information submitted through this website may not be secure, and you should avoid sending confidential or sensitive information.
Any examples or results described on this website are for illustrative purposes only and do not guarantee future outcomes. Past results do not guarantee similar results.
This website may include discussion of tax strategies, including the use of retirement accounts such as Roth IRAs. 529 Plans and Trump Accounts. Such strategies are subject to IRS rules and individual eligibility requirements.
Cichowlas Law, PLLC is located in Yonkers, New York, and the information on this website may not reflect the most current legal developments. Laws vary by jurisdiction and are subject to change.