[Author Prev][Author Next][Thread Prev][Thread Next][Author Index][Thread Index]

Re: Dan's Income is Taxable, Kids

The Judge wrote:
> To all:
> I am in for sending money to Dan, but it should not be sent to him directly
> (now don't go thinking this is LEGAL advice).  Shouldn't we find a place
> (commercial, preferably) that will sell the engine and send the money to
> them?  If Dan gets the money directly, it goes into his Taxable Income and
> he pays the piper.
> Just a thought.
> Todd

As far as I know, any money that is a gift (will not be repaid) given to 
someone is not taxable UNLESS it is more than $10,000 in any given year.  
Therefore, I think that he is ok.  My check will be sent soon.

Randall C. Markarian

1990 V8 Quattro 
1996 Merc E320