Hello wubeibei,
Yes, it is a good tax saving strategy to hire kids. Yes, you would need to issue a W-2 and send a copy to IRS as well.
You could use this software to generate and file W-2's:
Quick Employer Forms
Here is an IRS article with additional info:
Family Employees
Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!
Have an amazing day.
AR (CPA 10+ years)
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