This app helps parents manage their children's savings and investments. It allows you to track real work, pay your child, and fund custodial Roth IRAs for tax-free growth. Ensure compliance with IRS guidelines and generate necessary tax forms.
1.1.0
July 6, 2026
Fixed settings taps
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Roth Wizards is a record-keeping tool designed to help parents manage their children's earned income and fund custodial Roth IRAs. It assists in tracking jobs, payments, and generating necessary tax documentation for compliance with IRS guidelines.
Roth Wizards helps families by allowing parents to deduct their child's wages as a business expense (if applicable) and ensures that all contributions to the child's Roth IRA grow tax-free. It also generates W-2 and W-3 forms for year-end tax reporting.
Yes, even without a formal business, you can use Roth Wizards to pay your children for legitimate household projects. While you won't receive a tax deduction, your child's earned income can still be used to fund their Roth IRA for tax-free wealth building.
You can log any legitimate work your child performs, whether for your business or household. This includes tasks like marketing, photography, data entry, yard work, or tutoring siblings. The app encourages documenting substantial work, not routine chores.
Roth Wizards is built in alignment with IRS Publication 15 and IRC Section 3121(b)(3)(A). It helps document real work, track earned income for Roth IRA eligibility, and generate proper payroll documentation to stay within contribution limits.
Roth Wizards shows you exactly how much you can contribute each year. For example, it notes that up to $7,500 can be contributed for 2026, allowing you to maximize your child's tax-free savings potential.
Yes, Roth Wizards is available for free. The app is designed to help parents save on taxes, with many users recouping the cost of the app through tax deductions from their child's documented work.
No, Roth Wizards does not contain advertisements. The app is ad-free, allowing users to focus on managing their child's financial future without interruptions.
