The Kid's ROTH IRA Handbook: Securing Tax-Free Wealth From a Child's First Paycheck or Money Answers for Employed Children, Their Parents, the Self-Employed and Entrepreneurs
- ISBN 10: 0970822693
- ISBN 13: 9780970822697
- Author: Tracy Foote
- Edition: First
- Release: 2008-01-01
- Format: Paperback (196 pages)
- List Price: $16.95
- Tags: Business & Investing, Management & Leadership, Management, Personal Finance, General, Money Management for Young People
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Book Description: This book is to be used as a starting point for children and parents. The focus is on the unmarried dependent child (with no dependents of their own) who has a yearly income that ranges from $1.00 to the amount of the single standard deduction allowed by the IRS for the current tax year ($5,350 in 2007). This book can also provide limited guidance for children with incomes outside of this range, introducing them to basic topics. Major Topics include: 1) Money Management: Appreciate the benefits of a Roth IRA 2) Career Skills: Identify different types of child employment 3) New Ideas: Discover different ways parents can employ their children 4) Special Details: Learn how parents can issue Forms W-2 for their child 5) Introduction to Taxes: Basic tax concepts for children with low earned income 6) Powerful Knowledge: Understand rules for children to contribute to a Roth IRA.
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