Finding grants to help start a company that cares for the elderly can help fund a potentially lucrative business that also helps people. Step 1. Determine how much funding you intend to seek, as well as the overall costs for your business.
Like adults, minors are subject to the maximum annual contribution limits for Roth IRAs. As of 2012, the maximum contribution limit is $5,000 per tax year for investors under the age of 50. A minor may not contribute more than $5,000 to a Roth IRA.
Typical rules for Roth IRAs. To be eligible to open a custodial Roth IRA, the child must meet all the same requirements as an adult would. The minor must have earned income, and contributions are limited to the lesser of total earned income for the year and the current maximum set by law, which for 2015 and 2016 is $5,500.