First below is the basic information about what Kiddie tax is (this is from irs.gov)? If the child’s interest, dividends, and other investment income total more than $2,000, part of that income may be taxed at the parent’s tax rate instead of the child’s tax rate. See Form 8615 Instructions, Tax for Certain Children Who… Continue reading Does Kiddie Tax Create Inequality
Category: Kids
An iPad Mini For Christmas
I broke down and bought an iPad Mini for Christmas! Oh, not for me, instead it’s for my eight (soon to be nine) year old daughter! As a frugal personal finance blogger that works in technology field, how could I justify the $129 increase in the price of a product that might be considered inferior… Continue reading An iPad Mini For Christmas
Reasons for a Non-working Allowance for Kids
I admit, I’m somewhat unique in my implementation of the allowance plan that I provide for my kids. You see, they get an Allowance only to learn how to manage money. They don’t have to perform any work to collect their allowances, and that makes me an odd duck in the eyes of many of… Continue reading Reasons for a Non-working Allowance for Kids
Spending Money On Kids
Today my son asked if he could spend $2 to buy special armor for some free online tank game. Since I knew it was a free game, I instantly shot down that idea, actually making him feel a little bad in the process. While I didn’t mean to make him feel bad, sometime the way… Continue reading Spending Money On Kids