How can you save money with the “Kiddie Tax”? In this episode of the Small Business Tax Savings Podcast, Mike discusses strategies for reducing or avoiding the Kiddie Tax. He explains when it applies and what investments can be used to keep unearned income low.
Mike provides tips on filing form 8615, investing in Series EE, saving bonds, and more.
Tune in now and listen as Mike shares his goal to ensure you are paying the lowest amount in taxes as legally possible!
[00:24] Strategies To Minimize Unearned Income Tax For Minors
[01:21] 4 Primary Criteria Of Kiddie Tax
[05:36] Minimize Kiddie Tax And Take Advantage Of Investment Opportunities
[08:02] Closing Segment
Key Quotes
“Stay below the threshold. Simply put, if the unearned income of your child is under the annual threshold. No “Kiddie Tax” applies, nothing to worry about there.” – Mike Jesowshek, CPA
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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
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To find out more on this topic and many others visit our website at www.TaxSavingsPodcast.com. You can also give us a call at 844-327-9272 or send your questions to us at: Ask@TaxSavingsPodcast.com
