Creating Estate Tax Savings For Your Child Using A Roth IRA

Written by Richard A. Chapo


Continued from page 1

As a parent, it is vital that you teach your childrepparttar value of money. Opening a Roth IRA gives yourepparttar 110602 opportunity to sit down and teach your childrepparttar 110603 value of saving and investing, instead of yelling at them to clean their room. While a parental lecture onrepparttar 110604 need to save money would typically meet with glassy eyes and yawns, your child’s attitude will undoubtedly change when you are talking about their money.

Work and Maturity Issues

Before you rush out to open a Roth IRA for your child, you must determine if your child is eligible to open an account. To open an account, your son or daughter must be working at least part time for an employer that reports their wages to repparttar 110605 IRS. Hiring your child to take outrepparttar 110606 trash each week is not going to cut it, nor will this strategy work for your 5 year-old. Many teenagers, however, have summer jobs that should suffice for IRS consideration. To avoid any trouble, you should consult with your tax advisor.

A more sublime issue concernsrepparttar 110607 maturity level of your child. Keep in mind thatrepparttar 110608 Roth IRA will be opened in their name. Your son or daughter will haverepparttar 110609 legal right to do what they will withrepparttar 110610 account. It is strongly suggested that you clearly explainrepparttar 110611 consequences of taking money out ofrepparttar 110612 account [taxes, penalties, being cut out ofrepparttar 110613 will, forced to eat healthy food, grounded for life, etc.] butrepparttar 110614 decision lies with them. As difficult as it is, try to be objective in evaluating how you child will react to having money sit in an account. If you have doubts, you should probably investigate other tax saving strategies.

Opening a Roth IRA for your child can be a very effective means of leveraging your estate. If your child exercises restraint, your relatively small contribution to their Roth IRA can grow into a sizeable tax-free nest egg.

Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review.


Chinese Pregnancy

Written by Wong Yee Lee


Continued from page 1

Compared torepparttar west, western women can leave home after a week of giving birth and can go to work after two weeks. It is unimaginable in China.

In China, after giving birth, a woman should eat plenty of fish soup and pig knuckle soup. The pig knuckle soup is boiled for a long time with ingredients such as a lot ginger, eggs, pig knuckles in plenty of sweet black vinegar. It is believed that this soup can compensate forrepparttar 110601 loss of calcium and other nutrients needed byrepparttar 110602 body. It is a tradition to give out and share such soup to friends and relatives but one can only do so twelve days afterrepparttar 110603 baby is born. Chicken is also ideal for meals after giving birth. In order to help a mother to recover from giving birth, it is recommended that she should eat rice cooked with ginger daily since it can enhance all bodily circulation. Apart fromrepparttar 110604 above, it is also a tradition that afterrepparttar 110605 baby has been born for one lunar month, eggs dyed red should be given to friends and relatives. However, anything salty should be avoided since it will hinderrepparttar 110606 production of breast milk of a mother.

It is only afterrepparttar 110607 baby has weaned thenrepparttar 110608 mother can start considering controlling her body weight.

Some practices may seem quite unimaginable. However, they are still practiced in most places in China. Even in Hong Kong, women would followrepparttar 110609 above traditions as long as family expectations are involved.

This article was produced by Asia Dragon. Visit us at www.asiadragon.co.uk where you will find authentic oriental fashion clothing & accessories, kimonos, stylish home furnishings, furniture, beautiful ornaments, Chinese calligraphy plus much, much more!


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