IRA for MINORS APPLICATION Form

Instructions and help about IRA FOR MINORS APPLICATION

Roth IRAs for kids there's another social media platform that's out there a lot of people like to go on there and talk about how you should start a Roth IRA for your children and I'm not opposed to that because long term that money can grow extensively tax-free it's a huge benefit for them there's a lot of drawbacks though with the Roth IRA so let's go through that talk about some better accounts for your children [Music] hey it's Eric with jazz wealth managers where we don't just invest the dough we like to educate you on your dough so the Roth IRA is a great account one of the biggest things is though is your child has to have income to be able to do a Roth IRA for kids so if they don't if they're three years old a lot of people try to put a Twist on this and say well they work for my company well if you have a company you can pay your child the problem with this though is that when you get audited by the IRS you better find ways to justify how you paid little Susie the three-year-ol