"I would not want to be the one that suggests a parent can 'pay' their kid to make their bed and walk the dog and then deposit that money or an amount equal to it into a Roth IRA and avoid all taxes on the account. Certainly there is no question that a child with a paper route or baby-sitting money qualifies for a Roth IRA, and household chores might qualify, too, but when you get into gray areas, people don't always pay close attention to the details."  MORE >>