How to Start a Roth IRA for Your Child



You don’t need to put your spouse on payroll to compensate them. Instead, pay them through your business draws — it’s all marital income on the same 1040.

For example: if your draw is $10K a month, deposit $5K into their account. They feel compensated, you avoid payroll tax, and they can still contribute to a Roth IRA — unlike kids, who must have earned income to qualify.

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