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What tax advantages are those? Low-income families aren't going to be taxed on any of the money they gift to their children.
by jellicle 14y ago
What tax advantages are those?
Low-income families aren't going to be taxed on any of the money they gift to their children.
- Bricejm 14y agoJeff - CEO/Founder - The tax advantage is for the income earned on the investment. The kiddie tax exemption eliminates the the first $950 of unearned income. As long as deposits are less than $13,000 per parent/grandparent each year there are no tax issues for them either.