Thank you for your reply! If I do not have a company, can I issue W2 to my kids? Do I have to include that in my own tax? Do I have to withhold any tax/medicare for my kids?
So the kids who get W2 totalling $12400 and below do not require to file tax am I correct?
Also, for performing piano in family gathering, does it count as independent contractor or self employment for my kid? What if the kids walk the dog for my extended family?
My last question, from this link: https://dechtmanwealth.com/roth-ira-for-kids/
It seems the professional there suggest there is not necessary a W2, simply a notebook recording the date/ amount/ service provided is suffice for proofing the income of kids, is that correct?
Thank you very much
