Assuming an only child situation where you’re not screwing a sibling.

When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18.

Maybe they don't need the money now but in 5 years they wan to send a grand child to college.

Additionally, a CPA can maximize child tax credits, rental property depreciation, and ensure compliance with reporting requirements for their 1099 income.

While my husband and his ex make a similar income and do not exchange child support due to us pointing that out in court a couple of years ago, she actively request all financial documents that she possibly can and examines our taxes, etc. 

California also has Proposition 19 rules to consider, which might impact property tax reassessments if the transfer is not between parent and child. 

Relatively small amounts of interest income ($1600+ per year) is the highest taxed form of income I have found if you have kids at home.After earning a few grand in interest, It takes away my child tax credits and gives me an effective tax rate of 70%.   

Good Afternoon BP,I’ve been away for a while as the birth of my first child took priority.

A recent marriage or birth of a child or adoption of a pet.

I know what my ideal life looks like in ten years, unfortunately, I don’t feel like I can have my ideal life now because I am having to stay in the state that I am in until we can move without risk of my husband losing custody of his child, which will be in about 10 years so believe it or not I do spend a lot of time thinking about what I want the future to be like.