I'm glad that you found the article informative.

If you have 2 children, does that mean you can disperse ~$5K to each? yes

If my medical business is in the form of a LLC, that would be fine, correct? As long as the only owner(s) of the LLC is you, or you and your spouse.

Finally, could I transfer the money to child's custodial account? You're required to transfer money to your child's account by writing your child a pay check. And make sure to only compensate your child a fair wage for services provided.


If you find yourself on the Penn campus, I'm sure the Wharton finance professors will get a kick out of the use of Arbitrage in this article.

Zip Code: 01801

Thanks for the clarification, great idea. Speaking of Wharton, my spouse begins an executive MBA there and I understand that recent cases have opened the way for deducting tuition for such programs as unreimbursed business expenses. I definitely will try to take advantage of this.

Zip Code: 08043