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Posted by kastnna on January 26, 2007, 5:01 am
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rlbarlow0...@tds.net wrote:
> What is the benefit to the gifter to gift money to a family
> member?
1. Systematic gifting may reduce probate costs and reduce or
even income taxes and the death tax on wealth.
2. Gifts are decided while alive and therefore not subject
to creditors and/or will dispute at death.
3. Gifts allow the donor to see the donee enjoy the gift
while he/she is still alive.
4. A gift is completely private within the confines of those
involved in the gifting process.
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<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
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Posted by Harlan Lunsford on January 26, 2007, 5:01 am
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rlbarlow0301@tds.net wrote:
> What is the benefit to the gifter to gift money to a family
> member?
IMO, none. A giver should give money only because of he
wants to increase happiness for the donee. What other
reason could there be?
Maybe to make the donee beholden to him? To increase the
giver's stature in the eyes of the donee?
Christian charity?
ChEAr$,
Harlan Lunsford, EA n LA
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Phoebe Roberts, EA on January 26, 2007, 5:01 am
Please log in for more thread options rlbarlow0301@tds.net wrote:
> What is the benefit to the gifter to gift money to a family
> member?
It gets the money out of their estate, potentially saving
estate tax. Other than that, any benefit would be purely
emotional.
Phoebe :)
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Missy on January 26, 2007, 5:01 am
Please log in for more thread options rlbarlow0...@tds.net wrote:
> What is the benefit to the gifter to gift money to a family
> member?
Nothing
Missy Doyle
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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