Cash Gift

[abell]

I think your father would need to pay your sisters who would then pay you to avoid taxes. If your father pays you $30,000 in one lump sum, there are tax consequences (not sure if it’s for you or your father or both). Alternatively, your father can pay you 10,000 per year for 3 years which you can then split with your sisters.

[svelte]

That’s what I love about this site…some great ideas to explore are listed above…

[svelte]

That’s what I love about this site…some great ideas to explore are listed above…

[svelte]

That’s what I love about this site…some great ideas to explore are listed above…

[svelte]

That’s what I love about this site…some great ideas to explore are listed above…

[svelte]

That’s what I love about this site…some great ideas to explore are listed above…

[Ricechex]

Do you have children? You can have the money gifted to them, and open accounts in their names. You must go to the bank to do so.

[Ricechex]

Do you have children? You can have the money gifted to them, and open accounts in their names. You must go to the bank to do so.

[Ricechex]

Do you have children? You can have the money gifted to them, and open accounts in their names. You must go to the bank to do so.

[Ricechex]

Do you have children? You can have the money gifted to them, and open accounts in their names. You must go to the bank to do so.

[Ricechex]

Do you have children? You can have the money gifted to them, and open accounts in their names. You must go to the bank to do so.

[EVSDCA]

Currently, if your annual gift to any single person is $13,000 or less, you are in the annual gift exclusion meaning you are not required to file a separate tax return to report tax on your gifts. However, if your give to anyone is more than $13,000, you have to file separate tax return (Form 709) to report your gifts, but it doesn’t mean that you have to pay tax unless you already used up all your unified credit. Every US citizen has $345,800 of unified gift credit which mean you can give up to $345,800 (your first $13,000 for each person every year is always excluded) before you start paying tax on your gift. You must take any availabel unified credit against gift tax until it all exhausted. I hope it is not too confused. As alway, consult your tax specialist.

[EVSDCA]

Currently, if your annual gift to any single person is $13,000 or less, you are in the annual gift exclusion meaning you are not required to file a separate tax return to report tax on your gifts. However, if your give to anyone is more than $13,000, you have to file separate tax return (Form 709) to report your gifts, but it doesn’t mean that you have to pay tax unless you already used up all your unified credit. Every US citizen has $345,800 of unified gift credit which mean you can give up to $345,800 (your first $13,000 for each person every year is always excluded) before you start paying tax on your gift. You must take any availabel unified credit against gift tax until it all exhausted. I hope it is not too confused. As alway, consult your tax specialist.

[EVSDCA]

Currently, if your annual gift to any single person is $13,000 or less, you are in the annual gift exclusion meaning you are not required to file a separate tax return to report tax on your gifts. However, if your give to anyone is more than $13,000, you have to file separate tax return (Form 709) to report your gifts, but it doesn’t mean that you have to pay tax unless you already used up all your unified credit. Every US citizen has $345,800 of unified gift credit which mean you can give up to $345,800 (your first $13,000 for each person every year is always excluded) before you start paying tax on your gift. You must take any availabel unified credit against gift tax until it all exhausted. I hope it is not too confused. As alway, consult your tax specialist.

[EVSDCA]

Currently, if your annual gift to any single person is $13,000 or less, you are in the annual gift exclusion meaning you are not required to file a separate tax return to report tax on your gifts. However, if your give to anyone is more than $13,000, you have to file separate tax return (Form 709) to report your gifts, but it doesn’t mean that you have to pay tax unless you already used up all your unified credit. Every US citizen has $345,800 of unified gift credit which mean you can give up to $345,800 (your first $13,000 for each person every year is always excluded) before you start paying tax on your gift. You must take any availabel unified credit against gift tax until it all exhausted. I hope it is not too confused. As alway, consult your tax specialist.

[Author]

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