Raising an orphaned puppy is a noble and satisfying experience. However, orphaned puppies are very fragile and raising them can be challenging. Do not be disappointed if you are unsuccessful with some or all of the puppies. The fact that you are trying to help is often reward enough.
A Roth IRA for a child with earned income can be very attractive. There's no minimum age to set up a Roth IRA, and many IRA providers will accept accounts for minors.In most cases, the only issue is whether the child has taxable compensation.Potential for Tax-Free Compounding.n unmarried person must have earned income of his or her own to contribute to a Roth IRA. The income has to be income earned from employment, not investment income, and it has to be taxable compensation income. However, that doesn't mean your child has to actually pay tax on the income.
A person of any age can open and contribute to a Roth IRA. The maximum contribution you can make for the tax year 2011 is the lesser of your taxable compensation or $5,000. If you are 50 or older, the amount is $6,000. Adjusted Gross Income limitations for contributing to a Roth IRA in 2011 are: