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re: Had an interesting conversation with a former SEC football player
Posted on 5/4/16 at 10:35 am to tigerskin
Posted on 5/4/16 at 10:35 am to tigerskin
quote:
Well if I chose not to pay taxes and give that money to my mom that would be nice but not legal either.
The person receiving a gift is never liable for taxes on it. And only gifts given by an individual of $13,000 or more are taxable to the giver. So no, not illegal.
2
Posted on 5/4/16 at 10:37 am to Tigerfan56
Yeah, not truly "illegal". More correct to say neither is allowed.
Posted on 5/6/16 at 9:32 pm to Tigerfan56
quote:
The person receiving a gift is never liable for taxes on it. And only gifts given by an individual of $13,000 or more are taxable to the giver. So no, not illegal.
If you skimp on your taxes, and tell the IRS it was to take care of your mother, they still want their money. How dumb are some of you?
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