The Kiddie Tax Explained:

Why Putting Assets in a Child's Name is Tricky

It is natural to want to pass down wealth or set up financial accounts directly for your children to give them a leg up in life. However, transferring assets straight into a minor's name isn't always as straightforward or beneficial as it initially seems, especially once the IRS gets involved.

In this 5-minute audio breakdown, we dive into the mechanics of the Kiddie Tax and unpack the hidden tax rules for minors that catch many parents and grandparents off guard. Tune in to learn more about the unintended consequences of gifting and the specific pitfalls tied to UGMA and UTMA accounts so you can plan smarter.