Manhattan District Attorney intensifies investigation of Donald Trump

Ты как всегда ошибаешься, друг.

 

@adoo

Since you liked this post can you tell me what it says? TIA

 

The fact that you can understand it is really all that matters.

 

That i dont understand whatever the **** that is matters about what dumbass? Dont always have to have to have last word like a nagging b****.

That was directed at Adoo. You waited a day to poat that dumb **** and say i should understand it. Enjoy your New Year's eve

 

Then some idiot witch hunter argues he has to show his personal business when he runs for office

The only reason the IRS wants gifters to report gifts is so giftee doesn't avoid taxes

THATS WHY TAX RETURNS ARE PERSONAL AND NOT PUBLIC KNOWLEDGE

 

Calm down

 

There are other reasons. For example, gifters can transfer their wealth to their family or friends or anyone if they don't have to report actual numbers. Having annual and lifetime gifting limits and the need to report it helps prohibit that.

 

It doesn't matter.

Death taxes are paid by the living. Transfer of wealth is paid by receiver.

Both parties are required to report so government will know it happened

I dont know how dead report who they leave money to guess bank is required to report

 

Transfer of wealth is NOT paid by the receiver. If, tomorrow, I give my son more than my current lifetime gifting allowance, I pay taxes on the overage, not him. My son doesn't have to report any money that he is given.

A dead person's estate pays taxes on the dead person's assets if they are over whatever the allotment is in the year they die.

 

The person is dead bro. The tax is on the receiver. If there were no tax who would get the money?

 

Obsessive @bobrek

If you gave your son more than the allowance and there were no penalty your son got the money so your son got penalized

Edit: thought about this. If your son needed $100, 000 you would probably guve him enough to pay his tax and pay your penalty yourself. Im surprised the IRS puts a penalty as well as tax. That should be challenged in court by someone.

Thats truly double dipping. Estate taxes are on money received and thats justifiable imo. You shouldn't be penalized after you paid tax when you earned your money

 

No... the tax is on the estate. Estate taxes are paid from the estate FIRST on the amount over whatever the current exclusion is to the US government, then remaining assets are distributed according to the will.

With respect to gifts while one is alive, the GIVER pays all tax on any amount over the lifetime exclusion once that exclusion is reached. In the meantime, if they give an amount over the annual exclusion they have to file it on their taxes.

You can go ahead and say I'm wrong but how many hours have you spent discussing this very issue with tax lawyers? Tax accountants? Financial advisors? Zero? That's what I thought. Maybe you will listen to H&R Block...

Generally, the answer to “do I have to pay taxes on a gift?” is this: the person receiving a gift typically does not have to pay gift tax. The giver, however, will generally file a gift tax return when the gift exceeds the annual gift tax exclusion amount, which is $15,000 per recipient for 2019. The giver may also not owe gift tax due to the basic exclusion amount.

Or, perhaps the IRS will convince you:

The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement.

Now...perhaps you are taking about an inheritance tax which a handful of states have but the Federal Government doesn't.

You can continue arguing based on what you think. I'll continue to argue based on actual facts.

 

Estate Tax Info

Practically speaking, the U.S. no longer has an inheritance tax. Inheritances of cash or property are not taxed as income to the recipient. As of 2021, the estate tax, which the estate itself pays, is levied only on amounts above $11.7 million. The amount for 2020 is $11.58 million.

 

Quit riding pgab’s dick.

 

On the inheritance tax it doesn't matter who paid tax, the person losing the money is the person still alive. You cant take it with you

Do you really not understand that?

 

What was the dead person gonna do with the money?

 

Of course I understand that, BUT YOU SAID THAT THE INHRITOR PAYS THE TAX. That is factually incorrect.

Your lack of tax knowledge regarding estate and gift tax lsw is on full display.

 

Its cool bro im not selling tax advice. I was just making a point about Trump's tax returns and the calls to see them.

The reason i kept going on and on about the death tax is because its essentially the argument to get rid of them, double dipping.

As far as your point about the payment to Daniels Cohen actually set up an LLC to pay Daniels. So taxes were paid.

When i called it a gift i didn't mean it was technically a gift

 

Seems appropriate for some reason...

 

Yeah, you quoted my post. I got a notification, so I responded. I see you were throwing out insults which is what happens with you a lot.