How to make your child a $5 millionaire,
with NO TAX to them,
deductions for YOU,
on an amount less than a nice bar tab...
***Thread***
with NO TAX to them,
deductions for YOU,
on an amount less than a nice bar tab...
***Thread***
2) You need to be some type of business owner..
You need to employ your child so they can contribute to a ROTH IRA.
There are a few things you can employ your child to do.
On easy example is being a "model" in your business marketing materials (e.g. pics for advertising).
You need to employ your child so they can contribute to a ROTH IRA.
There are a few things you can employ your child to do.
On easy example is being a "model" in your business marketing materials (e.g. pics for advertising).
3) Create an employment contract with your child (for marketing materials, etc).
Pay your child up to $6,000/year (must be a market rate of pay). This is deductible to your business so net a couple $100/month.
Contribute this money to a ROTH IRA in your child's name.
Pay your child up to $6,000/year (must be a market rate of pay). This is deductible to your business so net a couple $100/month.
Contribute this money to a ROTH IRA in your child's name.
4) If you do this from birth to 18 years old, those 18, $6k tax deductible payments will become...
$5M when the child is 65.
This money will never be taxed!π€―
$5M, never taxed!!!π€―
$5M when the child is 65.
This money will never be taxed!π€―
$5M, never taxed!!!π€―
5) Be kind to your friends and RT this one.
Also, grab my guide below and start doing stuff like this as soon as you can. Understanding and saving taxes is a HUGE path to wealth. This guide could help you save $1,000s or more per year.
gumroad.com/l/MbBbDf
Also, grab my guide below and start doing stuff like this as soon as you can. Understanding and saving taxes is a HUGE path to wealth. This guide could help you save $1,000s or more per year.
gumroad.com/l/MbBbDf
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