Ullmann & Company, PC
Contribute to Your Kid's (Grandkid's) Roth

Will your child or grandchild be working this summer?  If so, consider making a contribution to a Roth IRA on his/her behalf.  The amount contributed canít exceed the childís 2016 earnings, up to a maximum of $5,500.  The pay-in counts towards the $14,000 gift tax exclusion. 

Roth tax benefits (subject to certain restrictions):  Withdrawals made after age 59 Ĺ are nontaxable.  Up to $10,000 of earnings can be taken out tax-free to buy a first home.  And contributions (but not earnings) can be pulled out free of tax at any time.

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Ullmann & Company, P.C.
4647 N. 32nd Street
Suite 220
Phoenix, AZ 85018
(602) 224-0166
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