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by abolt300. 09/20/24 04:27 PM
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137 registered members (Mansfield, Fl Panhandler, Sus scrofa Reduction Specialist, quailman, fishunt1001, T Bone, woodduck, dsmc, Bushmaster, BPI, lectrode, bambam32, goodman_hunter, timberwolfe, hgmike, dquick1, hue, Paint Rock 00, georgiaboy1970, Buckshot77, Longtine, gwstang, Turberville, Ruger7mag, BhamFred, IDOT, Happysappy, JohnnyLoco, FX4, Dean, JD53, knock him down, Tall Dog, jwalker77, curt99rsv, turfarmer, Scout308, Johnal3, ParrotHead89, Hunting-231, Coosa1, Bigwhitey, BentBarrel, Alb, TurkeyJoe, Turkeyneck78, JohnG, PossumPecker, StateLine, twaldrop4, PaytonWP, k bush, click-boom, CNC, canvasback, Ol’Tom, Jwoods32, kyles, Brent, !shiloh!, Teacher One, bass1090, Bjoff27, gatorbait154, Liberty, Skullworks, YellaLineHunter, Chancetribe, Jus_me, MarksOutdoors, G/H, Claims Rep., Mike32, ronfromramer, DuckDown11, BCLC, Peach, desertdog, Whild_Bill, TwoRs, DGAMBLER, Chaser357, AHolcomb, ridgestalker, AU338MAG, BamaBoHunter, limabean, BC, foldemup, bamaguzzi, ALDawg, canine933, 3006bullet, outdoorguy88, Justice, Kang, rrice0725, Goose, Semo, Joe4majors, Ben2, geeb1, Big AL 76, 2walnuts, 007, dirt, Backwards cowboy, lthrstkg1, BGR, Turkey, handihunter, deerkiller25, Jweeks, slippinlipjr, Smoke_Diver, BigA47, Gobl4me, Alwood, fish_blackbass, BBD23, Mulcher, dtmwtp, Jtb51b, 14 invisible),
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Re: Roth IRA's and etc..
[Re: AU7MM08]
#2711950
01/20/19 06:04 AM
01/20/19 06:04 AM
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Joined: Mar 2012
Posts: 2,474
Mississippi
riflenut
10 point
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10 point
Joined: Mar 2012
Posts: 2,474
Mississippi
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I think Roths can be pulled out for educational uses and grow tax free. Always use tax advantages.
2 things: 1) OP can't do a Roth in the child's name. You can only contribute qualified income into a Roth. The child has no income. 2) In Alabama you can double dip from a tax standpoint with a 529. Contributions are state deductible while withdrawals for school are both state and federal tax free. If the money is for college, 529 is the right answer from a tax standpoint.
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson
"I ask, who are the militia? They consist of now of the whole people, except a few public officers." George Mason
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