西部落：为孩子攒大学学费的高招

And here is your " Need to know" for today. The question: What is the best way to help your kids while helping¹ yourself? What a concept! And you wanna save for your child's future ? Well, get an IRA for the kids and then hire them. Just a couple of ways that can help save you money for those mounting college expenses. Joining us is Fox business contributor Jonas Max Feras. He is the founder² of the Maxfunds.com and of course a regular on Cashing-in. What a great time for a question like this, my son is about to leave for college. Is it too late? What could people do?

How... how old is he?

Too, too old.

Okay, (it) basically would happen is Congress changed the taxes, in, in an effort to keep taxes low, they have to crack down on the abuses of stock. This has been going on now for 30 years since Ragan lowered income tax and got to buzz people that were cheating to make a way to pay for it. What they basically did was raise the Kiddie Tax to 18. What was going on here is if your kiddo is between essentially³ 14 and 18 and you earn a high bracket. You can kinda hide money in their name and they'd be paying this low, this low rate.

That's why our parents have those passbooks⁵, well~you... you usual...you used to actually make money.

Well, what if you'd be well-off, if you, you actually can know with the rates gone up but it's another story. Anyway, the point is if you're paying taxes, say a 30 percent on your income, say a bounder or passbook⁴ saving or anything, your kid/ could be paying at 5 percent or less.(Okay) So you'd hide money there, that game's gone, you can no longer hide money in your kids' name, especially if you earn a high bracket than a low bracket, by the way, this is really bad for kids who're actually working teenagers and their parents are rich but don't support them,they get to pay~

Separate apart from the taxes, I wanna know how I can hire my kids to do chores, (Okay) pay them and pays off.

If you have... if you have a business, you can hire your kid as an employee. That money that you pay them is deductible to you as a business. you get in a write-off. They can then, start some sort of IRA or 529 to some extend and shield that, so they won't pay income tax on that either and basically you are getting a write-off, they are not paying tax on it. You hide money from Uncle Sam essentially. It's technically⁶ legal, you did some complexor theory to start here, you catch the accountant, But that is either..another way is to 529 plan, if you live in the state, this is totally on the level on the jet. If you are not to deal with other thing...

That's why we wanna stay.

If you... if (inaudible) 529 , if you are in a state with a high state income taxes and your parents earn a high bracket. They can save money for your college that way. It is like an IRA for college in a nutshell...(So it really works.)

Yeah. you don't avoid federal tax, you avoid state.

And new deductions⁷ for paying tuition.Is that situation improving?

One that I would say related to that is don't put your money in your kids' name if you think you'll need a financial aid because that's what the governement looks at first. You wanna keep money in your parents' stamp. They look at that too, but not as much.( OK). So if you're not very wealthy and you're looking to get that. That's..

Jonas Max Feras gotta run. Thanks so much. Little help for the parents trying to pay for college, keep those emails coming on Legal and Money Matters and tell me what you need to know just email me at [email protected]. We might answer your questions on the air.

1 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

2 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

3 essentially   

adv.本质上，实质上，基本上

参考例句：

• Really great men are essentially modest.真正的伟人大都很谦虚。
• She is an essentially selfish person.她本质上是个自私自利的人。

4 passbook   

n.存折；顾客赊欠账簿

参考例句：

• You fill out this application form and we'll issue you a passbook.你填好这张申请表,我们会给你一本存折。
• Would you please give your withdrawal slip and your passbook?请把您的取款条和存折给我好吗？

5 passbooks   

（建房互助会的）存取款记录簿( passbook的名词复数 )； （种族隔离时期所有黑人随身携带的）有色人种身份证

参考例句：

• Customer: Do account customers have passbooks? 顾客：支票用户有存折吗？

6 technically   

adv.专门地，技术上地

参考例句：

• Technically it is the most advanced equipment ever.从技术上说，这是最先进的设备。
• The tomato is technically a fruit,although it is eaten as a vegetable.严格地说，西红柿是一种水果，尽管它是当作蔬菜吃的。

7 deductions   

扣除( deduction的名词复数 )； 结论； 扣除的量； 推演

参考例句：

• Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 许多年纪比较大的军官往往相信特务的发现，而不怎么相信密码分析员的推断。
• You know how you rush at things,jump to conclusions without proper deductions. 你知道你处理问题是多么仓促，毫无合适的演绎就仓促下结论。