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Started By
Message
re: Friend gave his daughter $275k when she graduated college.
Posted on 1/14/22 at 12:48 pm to Y.A. Tittle
Posted on 1/14/22 at 12:48 pm to Y.A. Tittle
quote:
many places established Catholic schools before public schools were even a concept.
Ursuline Academy was founded 85 years before Louisiana even joined the Union.
0
Posted on 1/14/22 at 12:51 pm to GreatLakesTiger24
quote:
there was a tranny teacher in the 70448 10 years ago bro. there are no good public schools.
And there have been pedos in private schools for 500 years. Therefore there are no good private schools?
Posted on 1/14/22 at 12:52 pm to GetCocky11
(no message)
This post was edited on 7/8/22 at 7:09 pm
Posted on 1/14/22 at 1:03 pm to nikki6
My dad has a buddy who's kid did the opposite of this. He had an MBA and became I think an investment banker or something and one day presented his dad with a $500K check to repay him for all the private school tuition, college and grad school.
Posted on 1/14/22 at 1:13 pm to Ash Williams
Not a CPA but what I have researched about this subject before is that parents (married) can give up to $30K a year or $300K but cannot give anymore for 10 years.
This post was edited on 1/14/22 at 1:19 pm
Posted on 1/14/22 at 1:18 pm to TrouserTrout
quote:
Not a CPA but what I have researched about this subject before is that parents (married) can give up to $30 a year or $300K but cannot give anymore for 10 years.
(Trump wrong gif)
Posted on 1/14/22 at 1:23 pm to nikki6
I gave each of my daughters 125K at graduation.
100K for paying for 4 years of college with no loans attached. I also buy each a modestly priced new car at graduation. (Chevy Malibu).
275K is a big drop though!
100K for paying for 4 years of college with no loans attached. I also buy each a modestly priced new car at graduation. (Chevy Malibu).
275K is a big drop though!
Posted on 1/14/22 at 1:24 pm to LNCHBOX
Ok. Isn’t the first time I have been wrong. Not a CPA just a father of a young child looking for ways to keep our money in our family and not spread around to the leaches in this country through taxes.
Please educate me so that I am aware.
Please educate me so that I am aware.
Posted on 1/14/22 at 1:32 pm to nikki6
Seems crazy to give a 22 year old that much money. Just buy her a starter home and be done with it.
Posted on 1/14/22 at 1:33 pm to nikki6
I was very perplexed with the title, but it seems like a good dad who rewarded a hard working daugther.
Posted on 1/14/22 at 1:40 pm to TigerV
You and spouse can gift over $10mm lifetime dollars to your kid without tax
Posted on 1/14/22 at 1:43 pm to TrouserTrout
quote:
Please educate me so that I am aware.
quote:
Not a CPA but what I have researched about this subject before is that parents (married) can give up to $30K a year or $300K but cannot give anymore for 10 years.
It looks to me like you are referring to the annual gift tax exemption amount. It's been $15K per individual or $30K per married couple, but I believe it's increasing to $16K/$32K this year. You can gift that amount to anyone (not just your kids) every year
Posted on 1/14/22 at 1:43 pm to nikki6
Guy was disciplined and sacrificed for the next generation. Our once great country was built on this
Posted on 1/14/22 at 1:46 pm to LSUBoo
quote:
In the OP he/she said that the daughter used it to buy a house. That's a pretty responsible use, I think.
Yeah is a solid purchase assuming she can pay for the upkeep and property taxes.
Far better than buying a Tesla or Lambo with it.
Posted on 1/14/22 at 1:57 pm to jchamil
quote:Thank you for the clarification. I knew I read that somewhere just was a little off on what it was for.
It looks to me like you are referring to the annual gift tax exemption amount. It's been $15K per individual or $30K per married couple, but I believe it's increasing to $16K/$32K this year. You can gift that amount to anyone (not just your kids) every year
Posted on 1/14/22 at 1:57 pm to nikki6
yeah, i mean. it’s super generous but it sounds like she has done really well and saved him some money by being a great student. And if he has it and is willing to gift it, who am i to say it was a bad call?
Posted on 1/14/22 at 1:58 pm to nikki6
quote:
Got a full ride to SMU as well.
That alone cost more than he gave her.
Posted on 1/14/22 at 2:18 pm to 777Tiger
quote:others come softly
some come loud
This post was edited on 1/14/22 at 2:18 pm
Posted on 1/14/22 at 2:22 pm to nikki6
quote:
who's daughter
Whose.
Guess your parents saved money on your education too.
Posted on 1/14/22 at 2:40 pm to dsides
(no message)
This post was edited on 1/14/22 at 2:40 pm
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