Are my kids allowed to contribute to a Roth IRA?
Yes! Many people are aware that there is no age requirement for children contributing to a Roth IRA. The most important eligibility requirement is that the child has to have earned income. According to the IRS, earned income includes more traditional W-2 jobs as well as self-employment jobs such as dog walking and house sitting. If you are interested in learning more about how a Roth IRA account can help your child grow their savings, Bennett CPA is here to answer all of your questions.