Did You Hire Your Child This Summer?

Did You Hire Your Child This Summer? by Susan Moussi

{2:37 minutes to read} Summer is a great time to be a child. The school is out, and pools are open. However, for parents, summer is still a time to work. Some parents may want their child to work for them, because it will teach them life lessons about earning and saving money. Also, when they pay a child for work they perform, parents have an opportunity to shift income from their higher tax bracket to the child’s lower tax bracket. The child can then contribute their earnings to an IRA.

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