“So who pays the sales tax and the federal and state income tax on the gift? He could be on the hook for $20k or $30k.”
Obviously you didn’t read the article.
—”Obviously you didn’t read ...”
And this bit of fluff is not at all bothersome to my viscera, unlike any of today’s news.
What's the fun in that? Just holding up a fine FReeper tradition!
I bought the excerpt was enough. There's more?
“He could be on the hook for $20k or $30k.”
You don’t owe taxes on gifts you receive.