Recently I won a lawsuit for a dob bite on my 9 year old’s daughter…?
She got bit by a dog needed 8 stitches, the owners didn’t have her on a leash and the dog already had a bad rep for biting other children. We settled and the funds go into a trust fund until she’s 18..here’s my question, how do we handle that with our taxes? Is it considered an asset? Do other banks see it as just a savings account or a trust fund? Which banks have the highest interest rate? I was thinking “my orange savings account’? Thank you in advance.
Depends on the amount.
Read the Income Tax book you get when you file taxes. It will tell you how much interest a kid can earn before they have to pay taxes.
Also, don’t depend on Yahoo for answer’s. This is a real issue that you need to talk to a CPA or attorney about. Might sound like a waste of money, but we are talking about something that will effect your daughter.
Legends of the Hidden Temple – The Levitating Dog Leash of Nostradamus (temple run)