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How to pay my underage son for farm labor so he doesn’t have to pay taxes
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r82230
Posted 7/2/2022 21:17 (#9731240 - in reply to #9731008)
Subject: RE: How to pay my underage son for farm labor so he doesn’t have to pay taxes



Thumb of Michigan
junk fun - 7/2/2022 17:32

So either you want to pay him without deducting the cost, and he has to pay the taxes. OR, you give him the money and it's not deductible. That's sort of the way accounting works.

The other consideration is putting money into a Roth as a child is a great way to save, yet be able to pull it back out at any point, investment return has to stay in the roth. I don't know how that would affect financial aid for college, lawsuit liability, etc.


+1 on Roth
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