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11-16-2006, 09:17 AM
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#1 |
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BACON BACON BACON
Industry Role:
Join Date: Nov 2002
Location: Poems everybody, the laddie fancies himself a poet
Posts: 35,472
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if someone pays my mortgage off in full...and then i pay them in another country
will i get hosed on taxes?
like when they give me the money? i know i know i will ask my tax guy...but i am not home yet |
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11-16-2006, 09:35 AM
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#2 |
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working on my tan
Industry Role:
Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,151
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$10,000 per year from one person is the max before US gift tax hits. However, let's say your parents each wanted to give you 10 grand, no problem. If they wanted to give you and your wife 10 grand each, total of 40 grand no problem. Still, see a tax guy.
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11-16-2006, 09:48 AM
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#3 |
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Confirmed User
Join Date: Jun 2001
Location: Closer than you think
Posts: 9,535
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Whatever happens, consult a tax guy. He'll do the math for you.
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11-16-2006, 09:53 AM
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#4 |
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Confirmed User
Join Date: Jun 2001
Location: Closer than you think
Posts: 9,535
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Whatever happens, consult a tax guy. He'll do the math for you.
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Need Mainstream Content and SEO? SEO * Website Copy * Blogs Blogging - PR Work - Forum Marketing - Social Marketing - Link building - Articles 100% Guaranteed Content! |
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11-16-2006, 09:55 AM
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#5 | |
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Join Date: Jan 2006
Location: Maryland ICQ:87038677
Posts: 11,542
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Quote:
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11-16-2006, 09:55 AM
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#6 |
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Confirmed User
Join Date: Jun 2001
Location: Closer than you think
Posts: 9,535
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Sorry about that, folks. I accidentally clicked 'post reply' twice.
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11-16-2006, 09:56 AM
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#7 |
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Too lazy to set a custom title
Industry Role:
Join Date: Aug 2002
Posts: 55,479
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brad let me know, my dad is a tax auditor for rev canada, i can ask him
__________________
Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence.  My Cam Feeds Script |
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11-16-2006, 09:57 AM
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#8 |
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Registered User
Join Date: Oct 2006
Posts: 93
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I have that same worry sometimes. I get wires of 5k to 10k at a time from overseas relatives but usually less than 20k per year total. Hasnt bit me in the ass yet though.
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 Its like paying for an 86 Dodge Omni, and driving away in a 2006 Bugatti ICQ# 484877907 |
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11-16-2006, 09:59 AM
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#9 |
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I like Dutch Girls
Join Date: Feb 2003
Location: dutchteencash.com
Posts: 21,684
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dont you guys have that you can only be taxed once rule? cause we have that in the EU, would mean if you pay them in a less high % tax country you wouldnt be taxed.
then again theres this global taxation the US has right. Id certainly consult yeah
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 ICQ 16 91 547 - SKYPE dutchteencash bob AT dutchteencash DOT com ... did you see our newest Sweet Natural Girl Priscilla (18)? |
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