Have you ever wondered when your kids need to start filing taxes? It's not based on age, but instead on a set of income requirements for both earned and unearned income.
And how does a child file his own tax return? I'll give you a hint, he can either prepare his own return, or attach it to your return.
Get all your answers in When Do Kids Need to File Taxes?
Looking for a fun way to teach your kids about money? Give them the Test Your Money $marts quiz at the Securities and Exchange Commission.
Here's a preview question to get you started:
If you buy a company's bond,
- you own a part of the company.
- you have lent money to the company.
- you are liable for the company's debts.
- you can help manage the company.
- don't know.
Have you thought about what you plan to teach your children about money this year? While we commonly make resolutions for ourselves, it's just as important to set goals for teaching your children.
Based on their age, here are some places to start:
Hopefully you are enjoying the holidays with family and friends! Here are some great kids and money articles to keep you busy: