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Updated about 8 years ago on . Most recent reply

User Stats

218
Posts
282
Votes
Sunny Burns
  • Rental Property Investor
  • Garfield, NJ
282
Votes |
218
Posts

Paying my 1 year old as an apprentice landlord?

Sunny Burns
  • Rental Property Investor
  • Garfield, NJ
Posted

After being inspired by a recent post, I've been trying to find more ways to fund my Sons Roth IRA by giving him earned income. The eventual goal being to transform it into a Self-Directed IRA and have him buy his 1st rental property through it at a young age.

Anyway this morning I had to deal with a leaky pipe on the property and I took him out to help, he was my measuring tape holder and apprentice. I wonder if the IRS would be cool with me paying him $10/hr if it's well documented.

By the way since my regular handyman is on vacation, I posted a video  http://youtu.be/cJ765R5e1-M detailing the problem with an offer of $100 on Craigslist. And In 20 minutes I have a local coming to repair the issue. 

Most Popular Reply

User Stats

211
Posts
262
Votes
William Walker
  • Investor
  • Wilmington, NC
262
Votes |
211
Posts
William Walker
  • Investor
  • Wilmington, NC
Replied

@Thomas S.

If they grow up to be a drug addict, prostitute, criminal or simply irresponsible it's because you didn't train them right and you should put them on a M2M!

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