To: Kid Shelleen
How do you give your kid 10m without paying a big chunk of taxes? Seems to me that they wouldn’t want to pay taxes on it..so is it a loan? Someone must know.
10 posted on
07/26/2014 11:02:19 AM PDT by
Oldexpat
To: Oldexpat
The gift tax started at 1 mill per life time until recently. That would be 9 mill tax exposed to tax.
Not to mention ongoing property taxes in NY on a 10 mill dig.
To: Oldexpat
so is it a loan? Yep, a loan, to be repaid at $10 per year for a million years.
24 posted on
07/26/2014 11:36:24 AM PDT by
Graybeard58
( A feast is made for laughter, and wine maketh merry: but money answereth all things. Eccl 10,v 19)
To: Oldexpat
How do you give your kid 10m without paying a big chunk of taxes? Seems to me that they wouldn’t want to pay taxes on it..so is it a loan? Someone must know.That's why liberals love running non-profits.
29 posted on
07/26/2014 11:52:48 AM PDT by
fso301
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