Income shifting to kids

[Justin Denham]

I asked my CPA about shifting $6,300 to each of my kids on my tax return for the work they did in my business. He told me I would have to 1099 them. Is that correct?

[Jay C.]

I had a similar question. Can one purchase a rental property with a child (4 year old) and use some of the earned income to fund a kid Roth IRA?