Posted on 02/12/2009 11:31:44 PM PST by fight_truth_decay
I don’t understand it.
I have an aunt who worked multiple jobs her entire adult life. In 1995 she was involved in a terrible auto accident (not her fault), which almost killed her. She spent weeks in ICU, so you can imagine the medical bills. THe person at fault only had $10K insurance! Long story short, after a year of recovering, she was permanently disabled and had to jump through HOOP AFTER HOOP for 2 more years before being able to get disability. She then lived with her elderly mother who had alzheimers and cared for her round the clock for several years.
Your aunt will receive her rewards in heaven.
Where’s her husband and/or the father of her child?
The day you speak of will arrive when the IRS shows up at her door, asking why she didn't file a gift tax return. Uncle Sam wants his cut of the imputed income from the gifting of rent.
Based on the pictures I saw, I doubt there's enough rent to trigger gift taxes. However, Ms. Thompson would be well advised to not take any deductions for that rental property on her taxes.
I wonder what the story is on her son. Is he old enough to work and is he able-bodied? If he’s still a child, where’s the dad?
We can help her with an answer because her budget was shown in the news story (see video)
Ok, so lets review Henrietta's expenses:
$87.00 Tithes
$112.35 Storage
$60.28 Car Insurance
$50.00 Cash Loan
$45.00 VISA
$150.00 Gas (living in car)
----------
$504.63 Total Expenses
She gives $87.00 tithe, so we know she gets a check for $870.00.
The ministry claims they offered her an apartment rent free for three months, $400 a month thereafter. If Henrietta accepts the offer, she moves her items from storage that she can, and sells the rest. I have been through this, its tough, but you do what you have to do. This knocks out the storage cost. She sells the car and uses public transportation until better times, which saves on insurance cost and gas cost. So it looks like this now:
$870.00+ INCOME
$400.00- RENT
$100.00- POWER
$45.00- VISA
$50.00- CASH LOAN
---------
$275.00 BALANCE
Deadbeat son gets a job, priceless.
Having a roof over your head without embarrassing yourself and your country, priceless.
I'm sorry just was thinking about this subject the other day and my response to you (this inner voice I have) and realized I read you wrong..and so went my reply at the time--my fault.
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