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New Dad: Tax Savings and College Investing Ideas
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dittfarms
Posted 1/4/2025 20:49 (#11041371 - in reply to #11041355)
Subject: RE: New Dad: Tax Savings and College Investing Ideas


ottertail co mn
They need to be able to do the actual work and paid a fair wage for the work. Pretty tricky in my book anything younger than 6. My kids started picking rocks at 4 but they definitely would not have been paid any more than minimum wage at that time. I would say anytime after 8 on the farm and it becomes quite legit. And yes, my accountant said the money could be used by the kid to buy groceries and clothing and other expenses the kid may have…. No reason the kid can’t pay for food for the whole family if he chooses…

My youngest just bought a 22 rifle and scope today with part of his 2024 paycheck. I had to purchase obviously but he is paying me back.
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