Based on my discussions with the DNR and with a conservation officer, I would have to disagree. I was planning to something similar - go with my 9 year old during early muzzleloader and then hunt 1st season shotgun myself. I was told very explicitly that I must have a license for the season to be in the woods around a deer hunter. If I were to point out a deer, help track, help dress, or help drag it out, I'm participating in the hunt and must have a license for that season.
The only exception to this is the youth season - but my son is a few years away from being 12. So, we are both hunting 1st season together - I just hope the weather isn't too cold for him.
Turkey season is a different story - you just need a license for any season to assist someone else.
I take my boys along with me when I'm bow hunting. The officer said this was OK as it was more of an educational thing - I guess they are not participating. My 7 year old was sure excited to see me harvest a doe in the urban hunt this year.
I guess these rules are in place to keep someone from buying a license for their child and dragging them along but shooting the deer themself. But, it is too bad the law abiding hunters (and kids) have to suffer.