How do I set up an itunes account for my minor child?

We're getting an ipod touch for our son for his 8th birthday. How do I set up his own Itunes account so he can store his apps on his own account? (I'm getting a little overloaded with apps on my iphone.) Can I set it up under my itunes account or does he need a separate one?
Also, is there anyway to sync the Apps I already have on my itunes account onto his new ipod touch?
Thanks,
darcyfromdayton

I did this earlier this morning on my MacBook in iTunes.
Straight forward:
1. Creat an account with your child's birthday which is at least 13 years old.
2. Set the account up using your credit card.
3. Sign out and then back into your kids account.
4. Edit the payment by selecting NONE which will delete your credit card info.
5. Sign your kids account out of iTunes store.
6. Log into your iTunes store account and send your kid a iTunes Gift or set them up with an allowance.
7. Your kid can now make purchases on their iPhone, iPod, iPad  without affecting your credit card or bank account.
Have fun!

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