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re: 89 yo man receives $176K after pictured pushing popsicle cart
Posted on 9/12/16 at 8:47 pm to Tigeralum2008
Posted on 9/12/16 at 8:47 pm to Tigeralum2008
Too bad this is in Chicago. I know how this movie ends. A community organizer there will tell ol Señor Sanchez that his 211k is in Mexican Pesos and give the old dude $12,000.00 (US).
0
Posted on 9/12/16 at 8:53 pm to jbgleason
He is going to die now because of this money.
Posted on 9/12/16 at 9:00 pm to Tigeralum2008
Sorry.
Posted on 9/12/16 at 9:01 pm to Dick Leverage
quote:Annnnd that he's older than dirt.
He is going to die now because of this money.
But I get your point, it may not end well for him specifically because of this money.
This post was edited on 9/12/16 at 9:02 pm
Posted on 9/12/16 at 9:03 pm to soccerfüt
A shame the gofundmes of the slain BR police officers were nowhere near this amount.
Posted on 9/12/16 at 10:02 pm to hombreman9
Aren't individual gifts non-taxable up to 10k? Dude might get to keep it all.
Posted on 9/12/16 at 10:11 pm to Meauxjeaux
heres that same man after getting the money..
Posted on 9/12/16 at 10:32 pm to Hook Em Horns
Posted on 9/12/16 at 10:58 pm to LakeViewLSU
quote:sadly this is probably very true
He is going to quit working and die now. That Popsicle cart was the only thing keeping him alive.
Posted on 9/12/16 at 11:14 pm to Funky Tide 8
quote:
I was thinking something kind of similar. This guy probably couldn't care less about money at his old age. He probably pushes that cart around to stay alive. Unless he has kids/grandkids/great grandkids to share it with, I doubt this will impact his life that much.
It is definitely a nice gesture by the people that donated though, and I am in no way downplaying that.
Agreed. We've pushed the money narrative as a culture, and its obvious that many many people truly think happiness is related to money. If this guy has been doing this for 20 years, its obvious that money isn't why he did it. Why did whoever this person is think he did it? He really thought he simply couldn't do anything else?
I don't know, but its certainly a really interesting ethical question.
Posted on 9/12/16 at 11:20 pm to Tigeralum2008
Maybe some chrome wheels.
Posted on 9/13/16 at 12:02 am to lsu xman
Damn near $250K...amazing... 
Posted on 9/13/16 at 7:16 am to LSURussian
quote:
IRS gonna rape him..
Gifts are income tax free for the receiver of the gift.
Where there's a will, there's a way.
The IRS definitely has the will.
Posted on 9/13/16 at 8:17 am to Tigeralum2008
Wow, thanks for sharing
Posted on 9/13/16 at 8:30 am to loustuni
quote:
IRS gonna rape him..
Yep. Gift tax is a biotch.
Posted on 9/13/16 at 8:44 am to Pax Regis
quote:
Yep. Gift tax is a biotch.
Paid by the one giving the gift.
Posted on 9/13/16 at 8:50 am to LSURussian
quote:
Gifts are income tax free for the receiver of the gift.
Sweet. When I am old and dying I can just gift my estate to my child.
Or maybe the IRS has already figured that angle out.
Posted on 9/13/16 at 10:06 am to PrivatePublic
The gift tax doesn't kick in until you've given away around $5 million in your lifetime. So yes, you can do that. Additionally, there is a gift tax exclusion of $14k per person per year (that doesn't count towards the $5 million). So to answer your question, yes if you're assets are worth less than $5 million.
Posted on 9/13/16 at 10:21 am to Anfield Road
Up to $264,000.00!!!!
holy shite.
holy shite.
Posted on 9/13/16 at 10:34 am to Tigeralum2008
Breaks my heart.
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