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re: Gift Tax for a yacht?

Posted on 8/29/13 at 12:16 pm to
Posted by Powerman
Member since Jan 2004
162217 posts
Posted on 8/29/13 at 12:16 pm to
I still think he should take the boat and then quickly sell it for a quick profit

You'd need to make a career change but if you could be one yacht worth of cash richer overnight and screw your boss in the process then it sounds like a win win to me.
Posted by GaryMyMan
Shreveport
Member since May 2007
13498 posts
Posted on 8/29/13 at 1:54 pm to
There are a lot of great threads on here, like "how do I invest this half million dollars," but this has to be my favorite.
Posted by boosiebadazz
Member since Feb 2008
80227 posts
Posted on 8/29/13 at 2:29 pm to
You should stay far, far away from this one.
Posted by MMauler
Member since Jun 2013
19216 posts
Posted on 8/30/13 at 6:00 am to
Tell your boss that there are far more easier ways (with less IRS exposure) to hide assets from his soon-to-be ex-wife.
This post was edited on 8/30/13 at 10:25 am
Posted by brbowhunter
baton rouge
Member since Apr 2013
851 posts
Posted on 9/1/13 at 6:02 pm to
i say you call the irs and tell them your situation to make sure its all legal.......

dont get involved unless you have the funds to fight the irs once they get curious.
Posted by jso0003
Member since Jun 2009
5170 posts
Posted on 9/3/13 at 5:25 am to
Screw the haters man. Sounds like your boss took the "Hookers and Blow" advice of the MT extremely seriously.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 9/3/13 at 5:46 am to
quote:

A good recommendation for an accountant in the area would also be helpful.


Poodlebrain, who answered your question already I see.
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