All Questions
5
questions
2
votes
2
answers
272
views
Can I pay my baby an income to max out a custodial Roth IRA without paying/filing taxes for him?
I made a huge income jump from a career move right after having a baby. I do not want to do any lifestyle creeping and would rather put this money to work with compound interest. I'll already be ...
6
votes
1
answer
151
views
Can one 'pay' their son so he can contribute to his Roth IRA? [duplicate]
I'm a college student doing some part time work (for my school), and my dad very generously said that he would match my contributions to my Roth IRA if I maxed it out - ie. I pay in 3000 and he pays ...
51
votes
2
answers
13k
views
Can I hire my kid and start a Roth IRA for him?
I own an LLC, of which I am currently the sole member. It's my main source of income.
I am wondering if there is a reason why I could not do the following:
Hire my child as a part-time employee of ...
- 2,761
5
votes
1
answer
125
views
What laws are there surrounding earned income for younger children to make them eligible for Roth IRA?
I found this question looking for suggestions on ways that children can earn money, but I want to know what rules there are surrounding payments I can make to my child without getting the IRS on my ...
5
votes
1
answer
392
views
Qualifying income for Roth IRA for a child?
I'm thinking about my still-toddler boy, and trying to figure out how to help him get an income which would allow him to start contributing to a Roth IRA. I am aware that the value of such an IRA ...
- 187