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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (6350)	9/4/2011 2:19:05 PM
From: gronieel2	1 Recommendation Read Replies (2) \| Respond to of 10065

"If someone was bringing this up as a criticism of Bob I'd have to say it says more about the petty motives of one who would make a big deal of it to play gotcha with Bob than anything else and he constantly repeats he's not a tax lawyer and tells people to check with their tax person." Absolutely Mark, and Brinker DID advise Becky to check with her CPA right out of the box...this is just another example of years' old Brinker bashing.... Brinker: "Well Becky, any earned income, including babysitting income, would be income that you could designate for in investment in an IRA. Obviously, this would be income that would be on your income tax report. You would be declaring this income. Any income that is received for services rendered - certainly that would include babysitting - it includes golf so I think it should include babysitting. So there you go. You've got the opportunity there to put whatever you want in an IRA up to the $4000 limit for people under the age of 50." . Becky: "Okay, cause when I asked the accountant - maybe he didn't understand - he said I had a W-2 for that." . Brinker: "Well I'd rather you go through that kind of detail with your CPA. But my understanding is that if you have earned income that is declared income, on your tax return that that would qualify. Now how much are you making as a babysitter?"