how much can i give someone as a tax free gift? - GoFuckYourself.com

Global Dialers · 06-07-2004, 11:54 AM

in the following states..

california
florida
new jersey

im wanting to get a bit of tax releif for a large sum of $$$ and want to know the best state to give this person $$$ a 'gift'

jm_247live · 06-07-2004, 11:56 AM

I think it has to be under 10,000.00 and I think it's the same in any state

ZoiNk · 06-07-2004, 11:57 AM

My "feeling" is $10K, but call up an accountant or look at the IRS site.
ZoiNk

Global Dialers · 06-07-2004, 11:58 AM

yeah i thought it was a 10k federal limit but wasnt sure guess ill be checking out the irs website lol

on the off chance that anyone knows the answer to this..

say i give three people 10k gifts can they then put those funds back into the company and claim them as a personal write off?

4Pics · 06-07-2004, 11:59 AM

i thought its more like 50k one time gift in california, but I could be wrong.

polish_aristocrat · 06-07-2004, 11:59 AM

Poland is US' strategic partner, so there's a new rule that when you give me $15k, you won't be audited for the next 7 years

polish_aristocrat · 06-07-2004, 12:00 PM

ah, on a serious note, you were looking for some translations..still interested in that ?

TAMPA_TOKER · 06-07-2004, 12:00 PM

Quote:

Originally posted by Global Dialers
yeah i thought it was a 10k federal limit but wasnt sure guess ill be checking out the irs website lol

on the off chance that anyone knows the answer to this..

say i give three people 10k gifts can they then put those funds back into the company and claim them as a personal write off?

best thing to do is contact irs

Global Dialers · 06-07-2004, 12:01 PM

we got the people for the languages we needed immediately but i have that thread bookmarked so will hit you up in the next few weeks when we are ready to move forward on the next stages bro

PrivateIvy · 06-07-2004, 12:03 PM

I left my accounting degree behind for porn

But yes, it has to be below 10k

Ivy

Global Dialers · 06-07-2004, 12:05 PM

okay just checked on the irs site and it is below 10k

however i cant find out whether it is possible for the people that receive these gifts can put the funds back into a business and claim tax benefits of it anyone happen to know what thats called or if they do?

ModelPerfect · 06-07-2004, 12:18 PM

Quote:

Originally posted by Global Dialers
okay just checked on the irs site and it is below 10k

however i cant find out whether it is possible for the people that receive these gifts can put the funds back into a business and claim tax benefits of it anyone happen to know what thats called or if they do?

I remember reading it was $10K which is not taxed by the recipient...after that, I think they can do anything they want with it, including investing it in a business and still use that expense to offset income from the business.

SS396chevelleSS · 06-07-2004, 12:19 PM

ill take as much as you wanna give me, I need a few K for my truck anyhow

studio · 06-07-2004, 12:24 PM

yes it's 10,000 and they are best to depost into their account in 3 smaller amount is you do it or I think the bank has to report the transaction it big brother... I know they do with cash.... P.S. you can give that each year also... Dec 31 & Jan. 1 if you want to give more away...

06-07-2004, 11:54 AM	#1
Global Dialers Confirmed User Join Date: May 2004 Location: Spain Posts: 1,349	how much can i give someone as a tax free gift? in the following states.. california florida new jersey im wanting to get a bit of tax releif for a large sum of $$$ and want to know the best state to give this person $$$ a 'gift'

06-07-2004, 11:56 AM	#2
jm_247live Confirmed User Join Date: Feb 2004 Location: florida/philly Posts: 1,536	I think it has to be under 10,000.00 and I think it's the same in any state __________________ ICQ 280987151 [email protected]

06-07-2004, 11:57 AM	#3
ZoiNk Confirmed User Join Date: Feb 2002 Location: Canada Posts: 2,370	My "feeling" is $10K, but call up an accountant or look at the IRS site. ZoiNk __________________ "People can have the Model T in any color - so long as it's black." - Henry Ford

06-07-2004, 11:59 AM	#6
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	Poland is US' strategic partner, so there's a new rule that when you give me $15k, you won't be audited for the next 7 years __________________ I don't use ICQ anymore.

06-07-2004, 12:00 PM	#7
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	ah, on a serious note, you were looking for some translations..still interested in that ? __________________ I don't use ICQ anymore.

06-07-2004, 11:58 AM	#4
Global Dialers Confirmed User Join Date: May 2004 Location: Spain Posts: 1,349	yeah i thought it was a 10k federal limit but wasnt sure guess ill be checking out the irs website lol on the off chance that anyone knows the answer to this.. say i give three people 10k gifts can they then put those funds back into the company and claim them as a personal write off?

06-07-2004, 11:59 AM	#5
4Pics Confirmed User Industry Role: Join Date: Dec 2001 Posts: 7,952	i thought its more like 50k one time gift in california, but I could be wrong.

06-07-2004, 12:01 PM	#9
Global Dialers Confirmed User Join Date: May 2004 Location: Spain Posts: 1,349	we got the people for the languages we needed immediately but i have that thread bookmarked so will hit you up in the next few weeks when we are ready to move forward on the next stages bro

06-07-2004, 12:03 PM	#10
PrivateIvy Confirmed User Industry Role: Join Date: Oct 2003 Location: North Carolina Posts: 4,257	I left my accounting degree behind for porn But yes, it has to be below 10k Ivy

06-07-2004, 12:05 PM	#11
Global Dialers Confirmed User Join Date: May 2004 Location: Spain Posts: 1,349	okay just checked on the irs site and it is below 10k however i cant find out whether it is possible for the people that receive these gifts can put the funds back into a business and claim tax benefits of it anyone happen to know what thats called or if they do?

06-07-2004, 12:19 PM	#13
SS396chevelleSS Confirmed User Join Date: Mar 2004 Location: USA Posts: 1,692	ill take as much as you wanna give me, I need a few K for my truck anyhow __________________ Check out these awesome Blue Lights from KryptonBulbs.com Blue Headlights Great prices... Hyperwhites Better then SilverStars Sextoys Dildos vibrators and sex toy novelties

06-07-2004, 12:24 PM	#14
studio Confirmed User Join Date: Feb 2004 Location: Oshkosh, WI ICQ #251860879 Posts: 1,095	yes it's 10,000 and they are best to depost into their account in 3 smaller amount is you do it or I think the bank has to report the transaction it big brother... I know they do with cash.... P.S. you can give that each year also... Dec 31 & Jan. 1 if you want to give more away... __________________