Episode 44: Start an IRA for your working child NOW!
Accounting and Accountability
English - July 01, 2022 17:33 - 41 minutes - 34.1 MB - ★★★★★ - 9 ratingsBusiness News News Business Management whitecollarcrime businessnews crimedrama irsupdates taxdeductions Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Episode 43: Mileage reimbursement rate is on the rise
In this episode:
We review the Wash Sale Rules for stock. We discuss the nuances you should be aware of regarding Capital Gains Tax. If you want to elect portability, you MUST file an Estate Tax Return. The annual gifting amount of $6,000 can be placed directly into an IRA for a child, IF that child is earning income. Bank accounts in foreign countries MUST be disclosed to the IRS. Hiring your child is a great tax strategy.We also hear from our guest, Pastor Jamillah A. Mantilla, Ph.D., MBA. She is a pastor, traveling companion, clinical counselor, educator, advocate, stock trader and global leader. Hear how she balances all of her identities, her passion for helping to end human trafficking, and her calling to serve other and help them heal.
Find her at: