Home › Forums › Financial Markets/Economics › Family cash gifts and taxes
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equalizer.
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May 15, 2009 at 1:20 PM #399711May 15, 2009 at 3:09 PM #400062
sdduuuude
ParticipantCan’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
Can his mom buy the house, then quit-claim deed it to him?
May 15, 2009 at 3:09 PM #400497ParticipantCan’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
Can his mom buy the house, then quit-claim deed it to him?
May 15, 2009 at 3:09 PM #400351ParticipantCan’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
Can his mom buy the house, then quit-claim deed it to him?
May 15, 2009 at 3:09 PM #400293ParticipantCan’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
Can his mom buy the house, then quit-claim deed it to him?
May 15, 2009 at 3:09 PM #399814ParticipantCan’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
Can his mom buy the house, then quit-claim deed it to him?
May 15, 2009 at 3:18 PM #400072davelj
Participant[quote=sdduuuude]Can’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
[/quote]
It’s funny you mention that. I know a guy that’s part of a small group of wealthy folks, and the mothers and fathers each gift the maximum allowed to each of each family’s kids so that they, in effect, raise the maximum annual gift for each kid. There’s like 6 families involved with 15 kids, or something like that. So that each kid receives like $150K each year, instead of the miserly $12K (well, now $13K). I’m assuming it’s legal because the guy I know is pretty savvy about such things… but who knows…
May 15, 2009 at 3:18 PM #400507Participant[quote=sdduuuude]Can’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
[/quote]
It’s funny you mention that. I know a guy that’s part of a small group of wealthy folks, and the mothers and fathers each gift the maximum allowed to each of each family’s kids so that they, in effect, raise the maximum annual gift for each kid. There’s like 6 families involved with 15 kids, or something like that. So that each kid receives like $150K each year, instead of the miserly $12K (well, now $13K). I’m assuming it’s legal because the guy I know is pretty savvy about such things… but who knows…
May 15, 2009 at 3:18 PM #400361Participant[quote=sdduuuude]Can’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
[/quote]
It’s funny you mention that. I know a guy that’s part of a small group of wealthy folks, and the mothers and fathers each gift the maximum allowed to each of each family’s kids so that they, in effect, raise the maximum annual gift for each kid. There’s like 6 families involved with 15 kids, or something like that. So that each kid receives like $150K each year, instead of the miserly $12K (well, now $13K). I’m assuming it’s legal because the guy I know is pretty savvy about such things… but who knows…
May 15, 2009 at 3:18 PM #400303Participant[quote=sdduuuude]Can’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
[/quote]
It’s funny you mention that. I know a guy that’s part of a small group of wealthy folks, and the mothers and fathers each gift the maximum allowed to each of each family’s kids so that they, in effect, raise the maximum annual gift for each kid. There’s like 6 families involved with 15 kids, or something like that. So that each kid receives like $150K each year, instead of the miserly $12K (well, now $13K). I’m assuming it’s legal because the guy I know is pretty savvy about such things… but who knows…
May 15, 2009 at 3:18 PM #399825Participant[quote=sdduuuude]Can’t his mom gift $13K to 10 different people, then have each of those 10 other people gift to him or is it a $13K limit total for the gifter ?
[/quote]
It’s funny you mention that. I know a guy that’s part of a small group of wealthy folks, and the mothers and fathers each gift the maximum allowed to each of each family’s kids so that they, in effect, raise the maximum annual gift for each kid. There’s like 6 families involved with 15 kids, or something like that. So that each kid receives like $150K each year, instead of the miserly $12K (well, now $13K). I’m assuming it’s legal because the guy I know is pretty savvy about such things… but who knows…
May 15, 2009 at 3:23 PM #400067
svelteParticipant…and tell him not to drive across Texas with that cash!…
http://www.cnn.com/2009/CRIME/05/05/texas.police.seizures/
Minority, single, lots of cash. BAM! Shakedown!
May 15, 2009 at 3:23 PM #400502svelteParticipant…and tell him not to drive across Texas with that cash!…
http://www.cnn.com/2009/CRIME/05/05/texas.police.seizures/
Minority, single, lots of cash. BAM! Shakedown!
May 15, 2009 at 3:23 PM #399820svelteParticipant…and tell him not to drive across Texas with that cash!…
http://www.cnn.com/2009/CRIME/05/05/texas.police.seizures/
Minority, single, lots of cash. BAM! Shakedown!
May 15, 2009 at 3:23 PM #400298svelteParticipant…and tell him not to drive across Texas with that cash!…
http://www.cnn.com/2009/CRIME/05/05/texas.police.seizures/
Minority, single, lots of cash. BAM! Shakedown!
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