college fund idea questions
OK Alex, I have a question. I am thinking to copycat you on the college fund thing (not on API... I don't share your talent in that area... mine is for design services). I have two kids to help put through college. Have you looked into the tax shelter legalities of this? If so, what words of wisdom can you share? Obviously if I can get donations to the kids college funds (which they will need anyway), I am thinking that is much better than showing income on the business. I know that you can't offer legal advice... but can you share what you know?
alexfranke said:...Please remember to register, and while you're at it, browse some of the advertisers on my site. Registering helps my son, Jacob, because any donations go into his college account, and advertising click-throughs help me keep the site up and running. Please spread the word if you like this stuff!
OK Alex, I have a question. I am thinking to copycat you on the college fund thing (not on API... I don't share your talent in that area... mine is for design services). I have two kids to help put through college. Have you looked into the tax shelter legalities of this? If so, what words of wisdom can you share? Obviously if I can get donations to the kids college funds (which they will need anyway), I am thinking that is much better than showing income on the business. I know that you can't offer legal advice... but can you share what you know?