April 2025

A monthly newsletter brought to you by your Pratt and LeFevre Corporation Team

Take a Child to Work Day: Inspiring the Next Generation

On April 24, workplaces across the nation will celebrate Take a Child to Work Day, an evolution of the traditional “Take Our Daughters and Sons to Work Day.” This initiative, led nationally by Junior Achievement, provides children with valuable insights into the working world, fostering curiosity, ambition, and career inspiration. This year’s theme, “For A New Generation,” emphasizes connecting youth with diverse role models, empowering them to envision their future clearly and creatively (Learn More).

Your business can participate by hosting engaging, age-appropriate activities, inviting local schools or community groups, and providing hands-on tasks that teach practical skills. Participating not only supports your local community but also highlights your commitment to education and mentorship.

Tax Tip: Employing Your Children – A Smart Strategy for Small Businesses

Employing your underage children in your family-owned LLC can provide considerable tax advantages. Structured properly, wages paid to your minor children are exempt from Social Security and Medicare (FICA) taxes and are typically tax-free – no return required – for the child if they remain below the standard deduction threshold.

In addition to financial benefits, this strategy helps children gain essential life skills, such as financial literacy, responsibility, and a solid work ethic. Interested in learning how you can implement this effectively and remain compliant with all regulations? Contact us today for expert guidance.

Grant Opportunities for Small Businesses Nationwide

Securing funding is essential for small businesses looking to grow or overcome financial challenges. Several national grant opportunities are currently available. The U.S. Small Business Administration (SBA) offers grants primarily through partnerships supporting entrepreneurship education and training (sba.gov). Additionally, the Small Business Innovation Research (SBIR) Program funds small businesses involved in federal research with commercialization potential (Learn More).

Businesses can also explore Grants.gov, a centralized platform for federal grant opportunities across various agencies (Visit Grants.gov). Carefully reviewing eligibility criteria and connecting with local Small Business Development Centers (SBDCs) can greatly improve your chances of successfully securing grant funding.

DISCLAIMER: Pratt and LeFevre Corporation has several attorneys on retainer. Any information contained herein should not be considered legal advice. The above is only an explanation of instructions given to Pratt and LeFevre Corporation by our attorneys which we have been given permission to explain from a lay-person’s point of view only. Any clarification or questions must be answered directly by an appropriate attorney.