[WSBAPT] SEP-IRA for kids? Pre-Tax?

[Victor R]

what i was thinking is if it mattered whether they were a minor or not.

also, if the sep-ira limits would be the same for them, too?

On Thu, Mar 26, 2015 at 2:38 PM, John Creahan <john at cairn-law.com> wrote:

>  If someone does not have any earned income, he or she cannot use pre-tax
> dollars to fund an IRA (except for certain non-working spouses), so I don’t
> see how a company cannot establish an IRA for an employee’s child. If the
> child is also an employee, she could, of course, participate if she met the
> eligibility requirements.
>
> I suppose some business owners might “hire” their kids and fund the
> child’s IRA with salary, but the SEP rules limit the benefits of this
> approach.
>
> A child who earns wages – even working part time – is eligible to set up a
> traditional or Roth IRA, which, in most cases, would be funded by parents.
>
> I don’t know if this answers your question, but feel free to follow up.
>
> John
>
>
>
>
>
> John Creahan
> john at cairn-law.com
>
> 1325 4th Ave., Suite 940
> Seattle, WA 98101
> 206-621-5848
> www.cairn-law.com
>
> [image: cid:image001.png at 01CE636C.3EB992D0]
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Victor R
> *Sent:* Thursday, March 26, 2015 2:09 PM
> *To:* wsbapt at lists.wsbarppt.com
> *Subject:* [WSBAPT] SEP-IRA for kids? Pre-Tax?
>
>
>
> Members:
>
>
>
> Any of you ever hear of this type of investment vehicles for employees for
> their kids?
>
>
>
> ... or even something similar?
>
>
>
>
>
>
>
>
> --
>
>
>
> Victor Ro, Esq.
> THE RO FIRM, P.S.C.
> A Professional Services Corporation
> 5400 Carillon Point
> Bldg. 5000, 4th Floor
> Kirkland, WA 98033
> Tel:  (206) 319-7072
> Fax: (206) 319-4470
>
> This communication is CONFIDENTIAL - ATTORNEY WORK PRODUCT - PRIVILEGED.
> You are responsible for any damages arising in any way from its use.  Do
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-- 


Victor Ro, Esq.
THE RO FIRM, P.S.C.
A Professional Services Corporation
5400 Carillon Point
Bldg. 5000, 4th Floor
Kirkland, WA 98033
Tel:  (206) 319-7072
Fax: (206) 319-4470

This communication is CONFIDENTIAL - ATTORNEY WORK PRODUCT - PRIVILEGED.
You are responsible for any damages arising in any way from its use.  Do
not construe this correspondence or contents, thereof, as legal advice or
as an engagement between an attorney and client.  If you received this
communication in error, delete it immediately and permanently from all
existing files.  NOTICE and PROHIBITION:  Do not copy, transmit,
retransmit, distribute, or disclose this information contained, herein.
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