Hi Roy/Phil-I've read the FAQ & done a search, but I didn't find an answer to this question:My kids have UTMA accounts which collectively generate just enough dividends to trigger the kiddie tax. Since neither one has found a job yet (some lame excuse about learning to read & write first), neither has W-2 income to manipulate withholding to avoid estimated taxes. What, if any, is the relationship between my safe harbor WRT estimated taxes & their tax liability? Can the little tricycle motors piggyback onto Dad's W-2 safe harbor or am I going to have to find a Dickensian sweatshop for them to work in? Does anybody have Kathie Lee's number?My understanding is that the threshold for the penalty to kick in is taxes >$1K. Is that a separate grand for each kid, plus me & the missus (MFJ) or what?FWIW, we file separate returns for each tyke & our collective AGI is well below $150K.Thanks,Chris
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra