How Does the Kiddie Tax Work?
The more you learn about personal finance, the more complicated your questions are likely to get. But never fear: Hosts Robert Brokamp and Alison Southwick named their podcast Motley Fool Answers for a reason, and the Oct. 29 episode -- the monthly mailbag show -- the co-hosts will tackle a whole bunch of money conundrums with a bit of help from Motley Fool Wealth Management Director of Financial Planning Megan Brinsfield, CPA, CFP, and all-around fine human being.
In this segment, they answer a question from an investor curious about what happens if you -- or other friends or family members -- put non-cash assets in the hands of our offspring. The good news is that minors and full-time students under 23 will pay taxes at a lower rate than most adults. The bad news is that a few years ago, Congress significantly tightened the "loophole."
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
Source Fool.com
