Philando Castile Crew Raise More Than Quarter Million So Far (And Recent Developments)…

Conservative Treehouse ^ | 7-9-16 | Sundance

[A_perfect_lady]

Like Trayvon, to his womenfolk, he’s worth more dead.

[TangibleDisgust]

Jessie Jackson and Al Sharpton are no doubt keeping close tabs on this exciting and intriguing new “fund raising” development.

[ronnie raygun]

Here is another way to make lots of money gangbangers, antagonize the cops into shooting you

[palmer]

Gift tax exclusion is $14k per year per recipient.

[DCBryan1]

There are no taxes up to $10,000. These gifts are not deductible, therefore the money given has already been taxed. You can give someone up to $10,000 and they do not have to report it as taxable income. It is unearned.

Wrong. Amount is 14,000 per year or 5,430,000.00 one time. If you are blessed with money, you can give 14k a year to anyone you like. If you are married, you wife can give 14k too. Thus, if my grandparents were rich and both alive, they could give me 28k a year, and my wife 28k a year, and my kids 28k each.

I instruct my high net worth clients to use it as a tax free wealth transfer to grandkids in UGMA/UTMA/529s and is a very good way to reduce your taxable income to another tax bracket, say from 39.6 to 35% while funding future educational expenses or helping out loved ones, financially.

If you want to do it ONE TIME ONLY, you can give $5,430,000.00 tax free...but no more gifting to that person. (but your wife can give another 5,430,000.00 even from a JT TEN or JTWROS or Trust account.

[Jamestown1630]

Tthanks.

[imardmd1]

Thanks for your correction. I thought that perhaps I might have been off a little because my memory was what I did back in 1986.

At that time the per person per year limit was In one case, I loaned a person $40,000 on a note at no interest, then forgave a certain amount of it thereafter each year so that the person had the full amount in advance of the gift.

But the principle (not the principal) is still in effect, and even more generous if what you say is correct (which I do not doubt). Muchas gracias, amigo!