how much can i give someone as a tax free gift?

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  • Global Dialers
    Confirmed User
    • May 2004
    • 1349
    #1

    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'
    the hun gets revenue from pre-paid gallery placements on the top 15 spaces and banners.
    the rest of thegalleries are free placements.
    Tags: None
    • jm_247live
      Confirmed User
      • Feb 2004
      • 1536
      #2
      I think it has to be under 10,000.00 and I think it's the same in any state

      ICQ 280987151 [email protected]

        Comment

        • ZoiNk
          Confirmed User
          • Feb 2002
          • 2370
          #3
          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

            Comment

            • Global Dialers
              Confirmed User
              • May 2004
              • 1349
              #4
              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?
              the hun gets revenue from pre-paid gallery placements on the top 15 spaces and banners.
              the rest of thegalleries are free placements.

                Comment

                • 4Pics
                  Confirmed User
                  • Dec 2001
                  • 7952
                  #5
                  i thought its more like 50k one time gift in california, but I could be wrong.

                    Comment

                    • polish_aristocrat
                      Too lazy to set a custom title
                      • Jul 2002
                      • 40377
                      #6
                      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.

                        Comment

                        • polish_aristocrat
                          Too lazy to set a custom title
                          • Jul 2002
                          • 40377
                          #7
                          ah, on a serious note, you were looking for some translations..still interested in that ?
                          I don't use ICQ anymore.

                            Comment

                            • TAMPA_TOKER
                              So Fucking Banned
                              • May 2004
                              • 1907
                              #8
                              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

                                Comment

                                • Global Dialers
                                  Confirmed User
                                  • May 2004
                                  • 1349
                                  #9
                                  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
                                  the hun gets revenue from pre-paid gallery placements on the top 15 spaces and banners.
                                  the rest of thegalleries are free placements.

                                    Comment

                                    • PrivateIvy
                                      Confirmed User
                                      • Oct 2003
                                      • 4257
                                      #10
                                      I left my accounting degree behind for porn

                                      But yes, it has to be below 10k

                                      Ivy

                                        Comment

                                        • Global Dialers
                                          Confirmed User
                                          • May 2004
                                          • 1349
                                          #11
                                          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?
                                          the hun gets revenue from pre-paid gallery placements on the top 15 spaces and banners.
                                          the rest of thegalleries are free placements.

                                            Comment

                                            • ModelPerfect
                                              Confirmed User
                                              • Nov 2003
                                              • 2862
                                              #12
                                              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.
                                              Logan
                                              modelperfect [at] gmail.com
                                              http://www.modelperfect.com

                                              (Proudly hosted at www.webair.com )

                                                Comment

                                                • SS396chevelleSS
                                                  Confirmed User
                                                  • Mar 2004
                                                  • 1692
                                                  #13
                                                  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

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                                                    Comment

                                                    • studio
                                                      Confirmed User
                                                      • Feb 2004
                                                      • 1095
                                                      #14
                                                      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...

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