Posted on 08/31/2024 3:36:11 PM PDT by CottonBall
Trump War Room
@TrumpWarRoom
·
2h
“THIS IS THE BEST EXPLANATION I’VE HEARD”: Trump Transition Chair @howardlutnick
outlines how President Trump will use tariffs to protect the American worker
https://x.com/i/status/1846234962347143593
3:13 video
Hi CB....glad you’re back!
I saw this yesterday. So funny. I love Matt Walsh.
https://x.com/MattWalshBlog/status/1845945696471425444
I am NOT in deep dodo.
“There is typically a tax-free gift limit to family members until a donation exceeds $15,000 (jumping up to $16,000 in 2022). In these instances, the IRS is usually uninvolved. Even then, it can just result in more paperwork. At the federal level, assets you receive as a gift are usually not taxable income.”
” $18,000
For 2024, the annual gift tax exclusion is $18,000, meaning a person can give up to $18,000 to as many people as he or she wants without having to pay any taxes on the gifts.Mar 21, 2024”
So I can breath easy. I am not going to prison. :-)
does this mean that neither the giver nor the recipient has to pay taxes on that money?
That is correct. The giver has already paid taxes on the money they have. And someone can receive a GIFT up to a certain amount each year.
“You can give up $12.92 million over your lifetime (tax year 2023) without being subject to gift taxes. This amount increases to $13.61 million for 2024.Oct 5, 2024”
Geez Louise!
I can’t believe Canada is better in this regard!
Parents can give unlimited amounts of money to their kids, tax free.
This is why we gave the kids much of the house proceeds when we sold. I just couldn’t see waiting to be dead when they’re in the throes of life where the money would be the most helpful. Trudeau was yammering on about how to raise taxes more, and I knew gift taxes were on his hit list. I figured we best get the money to them now and not risk giving one red cent more to the corrupt tyrant.
thanks
Sorry to panic you, I may have misunderstood what that website said. You would only have to report it if it was over the limitation.
This is what it said but I’m not sure what it means. But if your research showed no need to file, then I’m sure that’s accurate. You are known for your research skills!
“Gifts made in amounts above the annual exclusion generally reduce your lifetime exemption amounts. For example, if an individual were to give $100,000 to their child, the first $18,000 would qualify for the annual exclusion, and the remaining $82,000 would reduce their lifetime gift and estate tax exemptions.
The gift giver is required to file and report the gift made but may not be subject to the gift tax liability up to the 40% rate depending on prior lifetime gifts made. The recipient usually doesn’t need to report the gift as it is not considered taxable income.”
How is your one eye? And how is the dryness?
I’ve had a bad flareup of dryness. You would think that the hurricane and the rain and all the moisture in the air it would be the opposite.
Don’t kiss your honey
when your nose is runny
you may think it’s funny,
but it’s....snot!
*evil grin*
Gorgeous Great idea/ mix of ingredients
I’ve been missing all y’all Been incredibly busy and overwhelmed
Had a nice break outing with some gal pals for lunch Thursday but even that day was crazy before and after
Long day yesterday. We left at 9 n home at 6. I fell into bed at 7 and slept til 9!this morning
Jeff had his paracentesis This time 10.5 L removed. Imagine 5 2 liter jugs of Pepsi . Time before it was 12.8 L
Appetite good afterward and had a meal at Cook Out. A big meal
Today I made stir fry, fried rice &!shrimp(for Jeff)
Have pix but I know Cotton is also busy
He had two helpings of fried rice and a pecan sticky bun for dessert. Ate all his veggies(stir fry) he normally balks at veggies
Passed on sauces I had and put on yum yum sauce
John Barrasso
@barrassoforwyo
The Bloomberg interview at the Economic Club of Chicago was one of the most consequential interviews of this campaign.
@realDonaldTrump
is in command of economic policies that will make America stronger. President Trump has proven the so-called experts wrong.
President Trump’s economy was the greatest economy of my lifetime, and the sky is the limit in a Trump-Vance administration.
Kamala Harris has failed on the economy and failed to bring down costs. She declined the interview today because she is unqualified and unprepared on economic policy.
3:17 PM · Oct 15, 2024
That’s wonderful news he is eating so well! What a change from when you first brought him home. What is causing all that extra fluid buildup? Poor guy, that has to be very uncomfortable
I don’t know if this has been covered already, but I’ll go ahead and put it here anyway.
FEMA Sends Electric Chainsaws to Areas With No Power in N Carolina
The New York Post reports several hundred volunteers, including many veterans, have banded together and using all types of equipment from trucks and 4-wheelers to even helicopters, they’re running a relief operation out of a North Carolina Harley Davidson dealership.
They’ve called themselves the “Redneck Air Force,” and according to the Post:
“The dealership teems with current and former soldiers decked out in camo pants and army boots with handguns strapped to their chests and hips. Crop duster pilots, helicopter tour guides and special operations pilots — most of them off-duty or retired military — have answered the call from Smith and others in North Carolina’s extensive military community.”
According to this report:
“We are on the mountaintop in Little Switzerland collecting airlifted donations and distributing them to homes that have no power or are inaccessible. The community is self organizing incredibly well”
What has been the input from FEMA? Very little, if any. These groups working the rural areas say the Feds almost never go up “this far” into the mountains, and the only FEMA relief in the Little Switzerland and the surrounding area has been 3 pallets of electric chainsaws, that require extension chords....in an area that is still without power and likely will be for some time.
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