Subscribe Now!
Free Daily News, Jobs, Webcasts, Discussions
Display and Distribute
Your Job Openings
COVID-19 News
COVID-19 Webcasts

Featured Jobs

Plan Administrator

Forrestall CPAs, LLC
(Buford GA)

Forrestall CPAs, LLC logo

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>



Saving for Your Kids' Retirement: Will a Roth IRA Work?
Motley Fool Link to more items from this source
Feb. 28, 2000
"A Roth IRA can only be funded by the earned income of the account owner. (That's real sweat-of-the-brow type earnings. Unearned income like dividends and capital gains don't count.) Unless your children are unusually talented, most of them won't have earned income in their elementary school years. Some kids do earn money through modeling, stuffing envelopes for mom's home business or the occasional patent, but allowances don't count unless the kid is really working for the money and if you try that one, you would want to check with a good tax advisor, and maybe a lawyer. I suspect Uncle Sam has already nipped that plan in the bud."

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020 BenefitsLink.com, Inc.