| | |  | Self Employment | Home » » The Kid's ROTH IRA Handbook: Securing Tax-Free Wealth From a Child's First Paycheck or Money Answers for Employed Children, Their Parents, the Self-Employed and Entrepreneurs | | | | | | | Description: | | This book is to be used as a starting point for children and parents. The focus is on the unmarried dependent child (with no dependents of their own) who has a yearly income that ranges from $1.00 to the amount of the single standard deduction allowed by the IRS for the current tax year ($5,350 in 2007). This book can also provide limited guidance for children with incomes outside of this range, introducing them to basic topics. Major Topics include:
1) Money Management: Appreciate the benefits of a Roth IRA
2) Career Skills: Identify different types of child employment
3) New Ideas: Discover different ways parents can employ their children
4) Special Details: Learn how parents can issue Forms W-2 for their child
5) Introduction to Taxes: Basic tax concepts for children with low earned income
6) Powerful Knowledge: Understand rules for children to contribute to a Roth IRA. | | | Product Details: | | | Author:
| Tracy Foote | | Paperback:
| 196 pages | | Publisher:
| TracyTrends | | Publication Date:
| January 01, 2008 | | Language:
| English | | ISBN:
| 0970822693 | | Product Length:
| 0.9 inches | | Product Width:
| 0.6 inches | | Product Height:
| 0.04 inches | | Product Weight:
| 0.65 pounds | | Package Length:
| 8.9 inches | | Package Width:
| 5.9 inches | | Package Height:
| 0.6 inches | | Package Weight:
| 0.55 pounds | | Average Customer Rating:
|  based on 7 reviews |
| | | | Customer Reviews: | |
Average Customer Review:
 ( 7 customer reviews )
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Most Helpful Customer Reviews
6 of 6 found the following review helpful:
Excellent book for people with working childrenJan 22, 2008
By Malia Russell
I had the pleasure of reviewing this book and I think it is a great resource.
This book was chock FULL of information to help parents and their children understand the ROTH IRA and how it can help your child secure tax-free wealth from their very first paycheck. I wish I had this book three years ago when my daughter first entered the world of working. She finally opened her ROTH IRA last fall. This book is user friendly. It has the technical jargon you may need, but has it presented in a very simple way. I think your teen could pick this book up and read it. If given to a homeschool teen, this would count toward a consumer math credit. It is quite thorough. As a former tax consultant I am financially savvy. This book is a winner! I HIGHLY recommend it.
Malia Russell
[...]
3 of 3 found the following review helpful:
A Must Read for ALL PARENTS!!Mar 08, 2008
By Jodie Atkinson
"beautifulawake"
Teaching children about saving money is critical for their success as adults. This book provides a step-by-step guide on how to teach your children about investing and specifically Roth IRAs. As an adult who had little knowledge on this subject, I found the book easy to understand without it being condescending. My children have both read this book (16 and 10) and were able to understand it completely. Even though they were resistant at first, both of my girls are now eagerly working on saving enough money to start their own Roth IRAs. This is a well thought out book and should be required reading for all parents and children.
3 of 3 found the following review helpful:
Excellent ReviewJan 31, 2008
By Art Patino
"Certified College Planning Specialist"
After reading "The Kid's ROTH IRA Handbook", I came away with a good feeling that kid's and parents can have hope for the future. Once we get the current generation of kids to understand saving instead of consumption, the problem is solved. This book explains a difficult concept in easy terms "Great job,Tracy"
Art Patino ,CCPS.
1 of 1 found the following review helpful:
Excellent Resource for Setting Up Roth IRA for Kids!Apr 29, 2011
By KC
I have been looking for a way to setup a Roth IRA for my daughters after learning that there was no minimum age a couple years ago. This book gave me the detailed instructions to do it, and to do it within the strict guidelines that the IRS has set. My daughters will thank the author when they have seen their money compounded with a couple DECADES head start compared to their friends!
1 of 1 found the following review helpful:
DomoniqueJun 04, 2008
By Domonique "www.kessinformant.com"
This book is wonderful! It is a great read, and an easy read for any parent teaching their kids about working and what to do with their money. Their is a lot more to it then just saving your money in the bank, and this book does a great job of breaking down the steps of what to do with your money. It even makes suggestions of jobs that children can do, whether it be working for their parents or getting a job outside of the home. My daughter is only 6, but I started teaching her about money and working for her money about a year ago. Of course I did not go into any complicated details, but I felt the younger the better to learn about money and what to do with it. I learned things from this book that I did not know before, so it was not only helpful for me to explain things to my daughter, but it was helpful for me as well, considering I learned some valuable information that I did not know before. I will keep referring back to book as my daughter gets older, and when she is old enough to understand the book on her own, she will read it as well.
Thank you Tracy, for sharing your knowledge, and making learning about investing your kids money not so scary or complicated.
See all 7 customer reviews on Amazon.com
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