The most obvious reason to hire your children is to have their salary as a tax deduction. The reason businesses get so many tax breaks is because the government understands the economic value of creating jobs. And by creating a job, your company gets rewarded with tax breaks. Another great reason to hire your children is the potential tax bracket benefit. Every dollar you deduct comes off of your highest tax bracket. Children under 18 are also exempt from Social Security and Medicare (FICA) taxes, which is more free money.