Raising an orphaned puppy is a noble and satisfying experience. However, orphaned puppies are very fragile and raising them can be challenging. Do not be disappointed if you are unsuccessful with some or all of the puppies. The fact that you are trying to help is often reward enough.
A Roth IRA for a child with earned income can be very attractive. There's no minimum age to set up a Roth IRA, and many IRA providers will accept accounts for minors.In most cases, the only issue is whether the child has taxable compensation.Potential for Tax-Free Compounding.n unmarried person must have earned income of his or her own to contribute to a Roth IRA. The income has to be income earned from employment, not investment income, and it has to be taxable compensation income. However, that doesn't mean your child has to actually pay tax on the income.
IRA rules limit the amount you can contribute to your taxable income. As of 2013, you can contribute taxable income up to $5,500, or $6,500 if youâre age 50 or older. Disability benefits are not taxable income, so you canât contribute these to an IRA.