Roth IRAs for Children

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to IRS rules, there is no minimum age to open a Roth IRA as long as certain rules are met. Questions: What is probably the most important rule for children to meet? What are some other Roth IRA rules? Does money for a Roth have to come directly from your child’s pocket? What if… Read more »

Bye-bye Loopholes! You will be missed!

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Keep an eye out for three retirement loopholes that the government may close shortly. They have become increasingly popular as financial advisers have learned how to exploit kinks in the law. Questions: 1. Who benefits from the Back-door Roth IRA conversions and how does this work? 2. What bothers lawmakers about “the stretch IRA?” 3…. Read more »