Monday, April 10, 2006

Taxing 3rd Graders:

I just finshed doing taxes for my family. I had to file a tax return for my little 3rd grader. She owed taxes on the small interest generated from her savings account. I guess kids learn reality at an early age. I don't recall my generation paying taxes until we became teens and got fast-food jobs.

Since my 3rd grader has no job, she can't start an IRA, so her savings get taxed until she's old enough.


Post a Comment

Links to this post:

Create a Link

<< Home