Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 Is everyone getting the tax rebate?
my parents don't think they are getting anything ...


 Would you claim somebody else's child as your dependant if the parent let you?
...


 Will the flat tax leave us flat broke?
...


 Okay, how long should it take for this check to get here?
My rebate check was mailed out on Friday. It's been 5 days. I thought it would AT least be here by today. The IRS website says expect it 3-5 days after it's mailed. Today is day 5 and I ...


 I did not file my taxes for the past two years, how should I correct that ?
...


 Since the kiranawallas and the vegetable retail shopowners do not pay taxes why we should support them?
The kiranawallas and the roadside vegetable and eatable vendors do not pay taxes which is a big revenue leakage for the govt. The big retail chains will give employment, pay taxes to the govt. ...


 Why do our taxes pay fof puplic access tv when no one watches it?
i can honestly say that i dont know anyone that watches puplic access tv so why does the government make us pay for it
Additional Details
i meant to say "for" instead of "...


 We bought a house last spring. How does it affect out income tax return?
I have heard from some sources that we will have to pay, but have heard from others that we will get a return. We both claim '0' and both had an extra $5 taken out of each check for federal....


 Do I have to pay tax on sales from a website?
Im looking into making a website that will take in less than $10,000 a year in sales. Do I have to pay tax on the items I sell? and if so how much and how to I register?...


 I want to know about VAT?
...


 How much income tax do i have to pay?
I am 18 male living in California and i work at a sushi restaurant making minimum wage maybe like 400 dollars a ...


 I haven't filed my taxes the last 2 years, am I in trouble? I know they owe me a refund!?
...


 I'm 22 yr's old. And I have never done my tax returns in my life. I was wondering of there was anyway I could.
So what do I do to collect for lost time? How do I get whats owed to me from all those missed years?...


 If I take PAN card is it necessary to file IT returns every year even if I do not have Taxable income?
...


 Can my ex boygriend claim my daughter on his income taxes?
He told me that every other year he is able to. I am going to school right now, and don't have income, so he did supply some income for me through child support but I did work for a bit at the ...


 How long does it to get ur rebate check from the IRS ?
...


 Will i get that extra tax refund?
I FILED MY TAXES LAST YEAR AND THIS YEAR BUT CHILD SUPPORT TOOK MY MONEY WILL THEY TAKE THIS EXTRA TAX REFUND I GET FOR FILEING THIS YEAR I KNOW I STILL OWE BACK CHILD SUPPORT...


 I live in kentucky my employer is in ohio will i still get the minimum wage for july of 6.55 hour? thanks.?
...


 Tax Credits and overpayment?
We get Working and Child tax credit.

We have been told there was an overpayment last year on our tax credits because our income was underestimated (caused by dp changing jobs a few times ...


 Tax returns!?
am an international student working on campus. my income last year was 4000 dollars that went to my fee which is like 6000 dollars! federal tax was 22 dollars and state around 10 dollars. how much am ...



Chris M
If I have given my child his $10,000 as his inheritance money for a year how do I deduct it on my taxes?
                     
 




Kathryn
It is not tax deductible, but it does fall under the $12,000 per year that you can give as a gift without filing a gift tax return.


smartblonde
It is not tax deductible. It's only tax deductible when you give to a charity. You son also does not have to pay taxes on it.


John L
Rating
You can't, you're gifting it, not donating it.


Wayne Z
Easy.....you don't!

Gifts are not deductible.


acmeraven
You don't and can't deduct it on your taxes. Welcome to the world.


bostonianinmo
Rating
There is no deduction for you and it is not taxable to him.

If this is "inheritence money" from you, it is considered a gift. Gifts of less than $12,000 are not taxable as they are below the exclusion amount. If you gave him more than $12,000 YOU might have to pay Gift Tax on the excess.

If this is inheritance money that you are custodian for until your child reaches a certain age, there are no tax consequences regardless of the amount you give him.


williamdp
No can do, its is not deductible. Sorry about that, but if you have the extra 10k, then by all means give it to your child. unless they are a looser.


Ken
You do not. You are simply avoiding the gift tax that you may have to pay later if you gave more than the legal limit at one time. Gifts are taxable (unless they are under the exempt amount), not deductible.


bullet b
Rating
i dont know about 10k. they might need to pay inheritance taxes. get a lawyer on this or financial advisor like an accountant on this.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.004
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy