 Recd E.mail from UKNational Lottery, London that I won 1 million UK pounds sterling advise solicited-scrpatnai |
| UK National Lottery London advised by e.mail that I won the prize 1 million UK pounds and they want me to send them 580 pounds to Scarlet Courier Ltd., England to meet expenses for courier service, ... |
|
 If you and your spouse live apart for over a year, can you file your taxes as single? |
| If you and your spouse live apart for over a year, can you file your taxes as single? My spouse and I have lived in different states for the past 2 years. Can we each use the "SINGLE" ... |
|
 Self Employeed, What is my gross income? |
| I own a construction company- I am looking to buy land through a farm credit company- They want to find out my debt ratio so I was trying to figure this out before I went to the bank to see what I ... |
|
 Taxes: If I got married today would I be able to file a joint tax return for the April 15th 2008 deadline? |
Taxes: If I got married today would I be able to file a joint tax return for the April 15th 2008 deadline?
or would it be next year that I could do that?... |
|
 What will my tax rebate check be? |
| i have two kids under 17, and filed married filing jointly. they say that parents will get 300.00 extra for each kid, and my tax liability was 0.00 when i filed. will i be getting 1200.00, or is it ... |
|
 Los Angleles Sales Tax will be 10.25% in next year, what is your reaction? |
Will that be highest in the country?
http://www.latimes.com/n Details
Agree, they idiot more people will gonna buy ... |
|
 Do I have to file a state tax return? |
| I live in New Jersey, and have never filed taxes before(I'm young and my parents always claimed me.) I'm a full-time student in college, and only made $1,470 in 2006. I just e-filed my ... |
|
 Is it fair to tax rich people more than poor people? |
| I dont think it is fair because in America everyone is supposed to be treated fairly.... |
|
 Bush's rebate checks...only $300? |
| My boyfriend got his direct deposit this morning and it was only for $300 (not $600)- why is this? Is it based on income? Did his parents claim him? He was living on his own last year, but can you ... |
|
 Can i file my taxes if im 17? |
Additional Details
i stay in california, and i have no idea what i should ... |
|
 How much do you spend on bills per month in the UK? |
Hi, I'm planning to move to London and I'd like to know how much, does the average person spends on bills in the UK, with water, sewerage, gas and electricity included.
I'm going ... |
|
 Is my daughter liable for (UK) tax on the maintenance income she receives from her ex husband? |
| At the moment she receives spousal and child maintenance but soon will only receive child maintenance.... |
|
 Once a company closes are they liable for thier debt? Specifically to the Gov't of Canada? |
| I work for a company that used to have a company by another name,. That company closed over two years ago. However I received an invoice from teh Gov't of Ontario regarding taxes in 2004 with ... |
|
 Can I use HDFC ATM Card to Withdraw the money from SBI ATM without any charges? |
Can I use HDFC ATM Card to Withdraw the money from SBI ATM without any charges?
Is there any charges to withdraw the money from SBI ATM useing the CARD of HDFC... |
|
|  |
Counselor | I want to give my 2 children $45,000 each for Christmas presents. Will I have to pay tax on that? |
|
 |
 
bostonianinmo
 |
Ignore the "business consultant," he doesn't know what he's talking about. The recipient never pays Gift Taxes. (And he has the numbers and procedures all wrong as well.)
You could, depending upon your lifetime gifting history have to pay some tax. You are allowed up to $12,000 per recipient per year without having to file a Gift Tax return. You may give to an unlimited number of recipients. If you are married, your spouse may do the same. If you each gave each child $12,000 just before the New Year and $12,000 just after the New Year, that would total $48,000 and no return would be needed at all. If you want to give them each $45,000 you'll either have to spread it over a few years or buck up and file the Gift Tax return.
If you give more than $12,000 to any one recipient per year you will have to file a Gift Tax return. The excess over $12,000 per recipient is then used against your lifetime $1,000,000 exclusion. So until you have given excess gifts that total more than $1,000,000 in your lifetime you will pay no tax. Do keep in mind that that exclusion will reduce your Estate Tax exclusion dollar for dollar so it could increase the tax on your estate when you pass if your estate is worth more than the Estate Tax exclusion, currently $2,000,000. |
|
Gary
|
The limit is $12,000 not $10,000. Why not give $12,000 for Christmas and $12,000 on January 1, 2008 to each of your children and avoid paying taxes unnecessarily. |
|
r_kav
 |
If you give more than $12,000 to any one person in a year, you are required to submit a gift tax return, but won't owe any money until the total of your taxable gifts exceeds $1,000,000.
You could give each $12,000 now and $12,000 on Jan 1, 2008. If you are married your spouse could do the same, for a total of up to $48,000 in the next couple of weeks. |
|
Renee'
|
First let me say, I'm not trying to be rude, but If you have that kind of money....first, don't you have some spiffy advisor to tell you, rather than ask on here? And let me ask YOU a question... with that kind of money to give as a "gift", WHY SHOULD IT MATTER....you should also donate to a local homeless shelter or Toys for Tots, or Share-A-Christmas or something...help someone who's in need. I'm sure if YOU have that kind of money, your children are doing okay in the financial department. Make a poor family's chrismas...it'll make you feel good!! |
|
froggie
|
Why not look into a way of investing this amount of money for them. A financial advisor can help you figure out what to do, and it will be well worth it for a $90000 "gift". |
|
The_Spaceman
 |
You can give up to $12,000 per child each year w/o them paying a gift tax.
If you're serious, and are paying them by check (or bank transfer), then have them cash their checks (20k total) before the end of the year. Then at the first of 2008, you can do another round.
But that only gets you up to $24k per child w/o having to worry about gift taxes.
Your spouse could do the same... |
|
Chris
|
What kind of job do you have that you can afford to give 90k away on Christmas? Only way ill ever have that kind of dough is to win the lotto... With that kind of money you should be able to afford a tax professional. |
|
gen patton
|
you or they will.
but, why not go to the bank with one and deposit the money with him/her on the account and able to write checks. they have the money and nobody pays. all you're doing is transfering your money to another bank. use different banks with each kid. merry christmas. |
|
abizman
 |
yes!! they will pay gift tax. You get one (tax free) gift in your lifetime so make it worth it. Gifts under 10k are not taxed. I would set up a trust fund and transfer the money this way which allows both parties to maintain control of the cash. This will mitigate gift tax. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 27 minutes(s) ago
| | | |
9 | 37 minutes(s) ago
| | | |
9 | 57 minutes(s) ago
| | | |
9 | 1 hour(s) ago
| | | |
9 | 6 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 5 day(s) ago
| | | |
9 | 1 week(s) ago
| | | |
9 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
