 Can i withdraw money from my the bank at my age? |
| i really need some cash now to pay for a few gifts for my mom besides the fact im broke. but i dont want to ask her to take it out because she will say no. (please dont say dont do what your parent ... |
|
 I am 11 and really want to make a lot of money!? |
| Hi, i am 11 and i really need to know how to make money, because there are a few gadgets i want, i live in an area where this is not many people so i can't walk the dog, neither baby sit,(i ... |
|
 I need to take out a personal loan? |
| I'm a college student that wants to take out a personal loan of $2500 for a 60 month period. I do not want to take out a student loan, because I do not need the $ for college, rather some ... |
|
 I need some help with ideas of making money please help!? |
I would like a macbook for £700 but I have £120 any ideas for good ways of making money? THANKS
Additional Details
I forget to say I'm 13 in the UK... |
|
 What is the average amount of money people keep in their wallet? |
| I was wondering if anybody knew any statistics on how much cash people keep on average in their wallet? If nobody knows any facts on the matter then you could just tell me how much you keep in yours ... |
|
 How much does the average 24 year old have in checking and savings? |
Also in mutual funds, retirement accounts, etc? I can't find any info on the web about it.
I am 24 with 300 in checking, 3100 in savings, 2500 in a savings CD, 3500 in a vanguard ... |
|
 Drive-thru window at bank? |
| ok i went to bank recently to withdrawl some money from my account ,well the teller made mistake gave me to much money back.what should i do ?... |
|
 Why people get into debt? |
| why people get into bad debt? ... is it because of low financial IQ... or because they try to live like rich people, but they're really not rich. or is it because in college they offered you ... |
|
 Exceedingly Rich People: How do you get that rich? |
| How are people able to get so rich that they can buy apartments in Paris, Sydney, etcetera? Is anyone here that rich, and if so, how did you get that way?... |
|
 How old would you have to be to get a job...? |
Additional Details
14 years old----OKLAHOMA... |
|
| Ways a 14 year old can make 10000$ in two years? |
| i need 10000 dollars to help pay for my car my father said if i can pay the down payment. any ... |
|
 Whats the easiest way to make a million dollars without selling your soul or committing a crime? |
| ok, I don't want any silly religious my treasures in heaven crap... I want realistic, creative answers...... |
|
 How to get rid of debt? |
| I have around £11,000 of debt, I'm 23yrs old, don't over indulge myself. £5,500 student loans from when I left uni (to pay back imediate.) plus, bank overdrafts and others? I work full ... |
|
 How Can I Make $50 Bucks in 8 days? |
| i've never been to a fair or anything like that and the state fair here is coming up on the 6-7.well it's 60 miles one way so in total it would be 240 miles(2 trips,one to drop me off, one ... |
|
 Writing a report to convince my parents to give me more allowance? |
| I am 13 year old and i get 5 dollars a week. I think that that si too low so i am asking my parents for a raise. But i don't know what else to write in the proposal so far i have suggested as ... |
|
|  |
gembaby74 | Can my father gift me $100,000 towards a new home? |
|
 |
 
nilajaj
 |
sure why not?? |
|
golferwhoworks
|
yes but that will have a tax implication since you are allowed gifts of up to 11,000 yearly. I would suggest that he buy the home in his name and list you as a joint tenant with rights of survivor-ship. |
|
hopetohelpyou
|
He can but the most he is allowed for a tax write off is 10,000. |
|
twong18
|
Yes he can give you anything he wants. But he will incur a tax liability if over $12,000/year. You don't pay the gift tax, he does.
Since it's close to the end of the year, he can give you 12K Dec 31 and another 12K Jan 1 w/o incurring a gift tax liability. Now, you can bring mom into it and that makes it double = 48K.
Your dad can always use the lifetime exclusion for gift tax where any amount over 12K per year gets deducted from his lifetime exclusion which is 2MM for 2006. He would have to file a form 709. Doing something like this must be done right to avoid headaches later on so consult a CPA or tax attorney. |
|
randyssgirl25
|
I believe that there is a limit on how much you can gift someone in a year without having to pay taxes on it, I would can the IRS and ask them what that number is I think that from spouse to spouse it is like 50,000 but I am not sure, Talk to an accountant and find out for sure, so you dont' end up getting audited at the end of the year. |
|
Scotsman
 |
You do NOT need to have the money in a bank account 90 days prior to purchase. All your father (and you) would have to do would be to complete a 'Gift Letter' from the lender you are using. If you are paying straight-up cash (no loan) then it doesn't matter at all. The other advice on here about tax consequences is spot on. Good Luck! |
|
Rockstar Jersey
|
yes but you need it in writing |
|
curmudgeon
 |
Why would you think he can't? |
|
ratoniluna
|
does he want another daughter? |
|
mortgage help
|
sure, why not? |
|
Jenyfer C
|
he can; however you need to have it in your account at least 90 days to keep it from raising flags at the bank. You also need to look into reporting it to the IRS, and it exceeds 10 grand. Not sure about the laws on gifting with the IRS, but better safe than sorry. |
|
Chantelle D
|
I don't see why not if he has that much money |
|
You're not perfect either
|
Why don't you ask him and see. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 31 minutes(s) ago
| | | |
13 | 43 minutes(s) ago
| | | |
13 | 46 minutes(s) ago
| | | |
9 | 56 minutes(s) ago
| | | |
13 | 1 hour(s) ago
| | | |
13 | 6 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
13 | 11 hour(s) ago
| | | |
13 | 1 day(s) ago
| | | |
13 | 4 day(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
