Pay your Kids and Open their IRAs


T

Tax Tip

If it looks like you will have a large taxable liability at the end of
the year, it's not a bad idea to hire your kids to landscape your
rentals.

You can pay your kids to do work on your properties, and put the money
in IRA accounts for them. This is especially a good idea if you’ve
already maxed out on your and your spouse’s IRA contribution for the
year. You’re better off avoiding the taxes on your extra income, and
the money will be safe in a tax free shelter.

And of course, it's a great way to help your kids prepare for their
first property!

Check out Real Tax Tips at TReXGlobal.com to learn more about saving
time and money on properties and taxes.
Be sure to try Simplify'em, the Property Management Software that's
available for free at TReXGlobal.com.
(http://www.trexglobal.com)


Community Relations TReXGlobal.com
(http://www.trexglobal.com/property-management-software)
Property Management Software for FREE, Money Saving Tools for Real
Estate Investors
 
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