Posted by JMS/.MN on June 09, 2010 at 21:22:29 from (209.237.107.155):
In Reply to: Paying taxes posted by flying belgian on June 09, 2010 at 20:57:10:
CRS says some years ago you could "gift" anyone up to $13000 without any tax obligation on their part. Beyond that, a recipient could receive more, but the tax liability would be on the estate of the gifter, not the giftee. I remember asking my tax CPA about that- no wonder people who inherited home money did so well- they could inherit as much as possible without paying taxes on it. Granted, they had no tax basis in the property for when they sold it. BTW, I think I"m older than you, but still adoptable!!!
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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