Want to help your grandkids build wealth and keep it tax-free? Here’s how: grandparents can 1099 the parent (not the grandchild) for helping in the business. The parent reports it on their Schedule C, then pays the grandchild for legitimate work — exempt from FICA taxes if under 18. That money can then be contributed to a Roth IRA for the grandchild. The result? A write-off for you, no tax for them, and a jumpstart on lifelong tax-free growth.
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