Account Closed
Tax on gift from foreign person
Hi,My parents are looking to gift me and my sister some money this year. I did some research into the rules on taxation for gifts from a foreign person and wanted to confirm my understanding (given innumerable loophol...
You wouldn’t think that a farm boy from Ohio would be spending hundreds of thousands if not millions on expensive clothing, high-priced whiskey, and expensive knife sets, would you? Only, he’s not buying these things ...
The 2023 holiday shopping season is here, and you know what that means…gifts, trips, and LOTS of spending. If you love the holiday season but are more into frugal festivities, we have just the episode for you. Whether...
Ivan C.
Tax-efficient way to gift US real-estate owned by foreign person
A family member is a foreign person (foreign national living outside the US) and he owns real-estate in New York City. He wants to gift it to my wife and I. We understand that real-estate is a US situs asset so it is ...
After tremendous research, the “MoneyType” quiz was finally released. All you need to do is answer some basic questions, and in a matter of minutes, you’ll know your biggest financial strengths and burdens, the money ...
Martingale Kim
Gift tax from foreign parents
my parents in law want to give us $60,000.i know there's a $16,000 gift tax limit. so to qualify this limit, does my parents-in-law need to wire me and my wife respectively 4 times at $15,000 each time?what will be th...
Sandro Hagenbuch
Foreign Gift Tax in New York?
Hi all,My wife and I are looking into buying our first home and have the following question for New York City (where we currently reside) / Jersey City, NJ (where the property is located) :- I understand that it depen...
Account Closed
Estate and gift tax in 2016
CPAs and the BP community with input/knowledge/experience with large monetary gifts:New Estate and Gift Tax for 2016Sometime in 2016, my wife and I would like to give my parents a large sum of $40-60k as a gift. I und...
Michael Williams
Christmas gifts for tenants
Is it a good idea to give tenants Christmas gifts? I give tenants target gift cards with a nice note, they’ve payed their rent on time and they have not caused any major damage to the property. Anyone gift their tenan...
Joseph Bagley
Creative way buy take ownership of property?
BP,I thought I had this all thought out but I found out that I know nothing like John Snow :-D.Soooo... my Mom agreed to give me and my brothers her 1st home, which is paid off. Intent is to pay her $100k by using th...