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Posts By TheOcean
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
:lol: Don't get banned. Just tell pride he's a 100% correct and the IRC is 100% incorrect. ...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]The first 5-6 posts were all about how the donee can stay from the tax.[/quote] Where did I mention that in my post? My post was how the OP's relative could avoid all taxes period. I'm sure the OP would prefer his relative not pay any taxes. I'll give you that OP asked specifically about h...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
Solid advice was given by posters. Someone came in and took a shite over all the advice--and that person happened to be completely incorrect. Pissing match ensued. ...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
:lol: Thanks for looking it up :bow:...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]How would the IRS ever know about the gift? Serious question. [/quote] Not touching that one :lol: I'm sure poodle/houston will chime in at some point...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]Unpaid Taxes If the person who gives you a gift doesn’t pay the taxes that are due on it, the IRS can attempt to collect the taxes from you. The IRS has a wide range of collection actions, which can include eventually placing a tax lien against you, although this usually happens only after...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
You're still wrong. If the donor doesn't pay the taxes, then the IRS will be coming after the donee. eta: I will now bow out of the pissing contest in which I was correct :lol:...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]First, you don't have to pay any taxes on any gift ever. Thats the relative's responsibility. [/quote] =/= [quote]Under special arrangements the donee may agree to pay the tax instead.[/quote] ...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
So the donee is never forced to pay the tax? How much would you like to wager? ...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]He was right [/quote] You would also be incorrect. Don't feel like citing the code. ...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]For the money board there sure has been some poor answers so far. [/quote] wat [quote]First, you don't have to pay any taxes on any gift ever. Thats the relative's responsibility. [/quote] wat x2 [quote]Second, the relative has something like a million dollar lifetime gift tax e...
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Outdoor Board
re: Gating canals in houma area - TheOcean
Like I said, the dock owners here in FL would love similar laws. Thankfully we're not as corrupt as LA :lol:...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
[quote]How many annual exclusions are available? The annual exclusion applies to gifts to each donee. In other words, if you give each of your children $11,000 in 2002-2005, $12,000 in 2006-2008, $13,000 in 2009-2012 and $14,000 on or after January 1, 2013, the annual exclusion applies to each gift...
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Outdoor Board
re: Gating canals in houma area - TheOcean
[quote] I have talked to other fisherman in other states and they haven't seen gated canals in there state[/quote] Pretty sure LA is the only state with such an awful law. Looks like it was pushed through by large corporations. America, baby. ...
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O-T Lounge
re: Rome - Any Experts in Here? - TheOcean
[quote]My goal is to fly into Rome, hang for a day then head to Florence. However, time is an obstacle and this is a condensed trip with only 5 nights. [/quote] Sounds like a solid plan. I went to Florence and Rome. Florence is much better than Rome, imo. My favorite cities were Naples and Capr...
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Outdoor Board
re: Gating canals in houma area - TheOcean
Aren't you an attorney? You obviously have some sort of interest in gating waterways if you think canals are similar to private roadways/driveways. ...
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Money Talk
re: Best Approach to Accepting Large Cash Gift? What should I do with it? - TheOcean
Have the relative and his/her spouse gift you 14k each every year (28k) until you reach the amount he/she wanted to give you. If you're married, have them give 14k each to your wife. 14k was this past year. Not sure how much it increased for inflation. ...
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Outdoor Board
re: Gating canals in houma area - TheOcean
Isn't LA the only state with such a law? The rich folk here in FL who hate people fishing near their docks would love y'all. ...
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Outdoor Board
re: Gating canals in houma area - TheOcean
[quote]Thank you!!!!!!! It's amazing the number of canals that have been gated the last 5 years in south Louisiana[/quote] Sounds like a dumb law (I'm guessing LA is full of them) that was pushed through by large corporations. ...
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Outdoor Board
re: Gating canals in houma area - TheOcean
Roads are now the same as waterways? Do you typically fish from your vehicle or participate in any other recreational activities while inside your vehicle?...
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Posts By TheOcean
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