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.
Age and Income Limits Still Apply. Relying on the spouse's earned income satisfies only the earned income requirement for a nonworking spouse to contribute to an IRA. To contribute to a traditional IRA, the nonworking spouse must be under 70 1/2 years old as of the end of the year in which the contribution is made.To contribute to a Roth IRA, the joint income of the couple must be under the annual limits, published each year in IRS Publication 590.owever, the working spouse's earned income cannot be counted twice. For example, if a working spouse has $9,000 of earned income and contributes $5,000 to her IRA, the nonworking spouse could contribute only $4,000 to his IRA.