What You Need To Know About The Custodial Roth IRA
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I have Rental Houses and am thinking I could use my Grandkids (when I have them) to Model my Rental Houses!)
Then we can turn that earned income into a ROTH IRA!
Does that work!?
I don’t know what it is about him, but I like this guy.
i have a minor child that i started giving house chores like folding his own launry, pickup leaves in fall season, water plants in spring, does lemonade stand, empty garbage can in his room etc… So far he has save total of about little over $5k. I didn't know anything for having Roth account for a minor until this wk.
My question is what do I need to proof the IRS how he earned the money ? Thank you!
Thankyou me and my parents are thinking about doing this
Alaska's PFD system allows us to use the Alaskan Yearly PFD as EARNED INCOME for children at age 1. Per Charles Schwab it counted so i started some for my kids.
I started Custodial IRAs for my kids. Using that yearly income. Instead of it sitting and rotting in a bank account. Which is basically worthless at .1% annual interest lol
better do this with the way that the country going with these 2-3 trillion dollar stimulus packages so social security and medicare wont be a pillow for much longer
If u match dollar for dollar, do u actually file for double her income? $1k earned from babysitting + $1k matched = 15.3% of $2k total “earned”?
this is awesome. Do you know what website can I go to make a custodial ROTH IRA?
Nice. I saw the whole video with all 4 or 5 points. I was hoping you would break it up into individual points. Now I can share this with my sis with kids. Short and sweet. Thanks guys.