So I have a Roth IRA that I was able to start from rolling over a company retirement benefit. But I have no earn income to be able to allow me to contribute more to this Roth. I’m 53 and want to max it as much as possible.
I’m retired and do not plan to work. But my daughter has a company (LLC I think) that can hire me. I thought of this because I give her financial advice. It may even help her from having another company dependent. So I was going to get her to pay me $8,000 a year which is the max I can contribute to my Roth. Would this be ok we her being my daughter? Would she have to give me an annual W2 like normal? Is there a paper trail of her paying me that is needed? Such her giving me a physical check, showing me depositing it in my bank and her bank showing the withdrawal, etc?
