|Articles|February 5, 2010

Determine legality of paying teenagers with Roth IRAs

Payment for work with Roth IRAs is addressed

A: Yes. As long as their adjusted gross income is less than $105,000, they each can contribute $5,000 per year. Because the funds build up tax-free, the IRAs will become significant nest eggs by the time the children reach age 59 1/2 years.

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