Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
Working at a young age in the United States is an American tradition. I did it... I worked at my Father's Construction Business at an early age that taught me a lot of lessons along the way.
What isn’t so traditional is the notion of your child contributing to their own IRA, especially a Roth IRA. But it should be a tradition because it’s a really good idea.
Here’s what you need to know about IRAs for your child. Let’s start with the Roth IRA option.
Roth IRA Contribution Basics
The only Federal-Income-Ta...