Episode 44: Start an IRA for your working child NOW!

In this episode:  We review the Wash Sale Rules for stock. We discuss the nuances you should be aware of regarding Capital Gains Tax. If you want to elect portability, you MUST file an Estate Tax Return. The annual gifting amount of $6,000 can be placed directly into an IRA for a child, IF that child is earning income. Bank accounts in foreign countries MUST be disclosed to the IRS.  Hiring your child is a great tax strategy. We also hear from our guest, Pastor Jamillah A. Mantilla, Ph.D., MBA.  She is a pastor, traveling companion, clinical counselor, educator, advocate, stock trader and global leader.  Hear how she balances all of her identities, her passion for helping to end human trafficking, and her calling to serve other and help them heal.  Find her at: https://bizambassador.com https://expandandrise.com https://www.Globalembassy.world https://ybirb.com