Monday, January 27, 2014

Can I buy a house under my name with my parents money without paying tax?

gift for mom under 30 on Knit Jones: Baby Pics
gift for mom under 30 image



cherrypieq


I live in Virginia and I wanted to know if I could take my moms 300k (whatever amount) and buy a house under my name. I have heard you will be taxed like 30%.... that there is no such thing as free money. How can i get around this tax issue and is it even true?


Answer
it is called the gift tax. the most that one person Can give another during a single year is 12K with out being taxed. though your mom could also give money to your spouse and you could get money from your dad as well. I don't know of a way around this. if you tried to just take the money and spend it, I'm not going to say you would get caught but it would raise some red flags.

What can i get my mom for 10 dollars for christmas?




WAKE UP


well i had 60 dollars, i spent 15 on my dad, but he only asked for one thing and he said to spend the rest on my mom. so i got a 30 dollar gift card for my mom. spent 5 dollars on cards. now im left with 10 bucks. i gotta get her something thats not a gift card, something 10 and under tho. thanks


Answer
These people did a pretty funny list

http://kidsarecreepyweirdos.blogspot.nl/2012/12/christmas-gifts-for-assholes.html




Powered by Yahoo! Answers

No comments:

Post a Comment