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POLITICAL THREAD

How will they rule ??!

  • YES - Qualified

    Votes: 41 82.0%

  • NO - Disqualified

    Votes: 9 18.0%
  • Total voters
    50
  • Poll closed .
UK_fan_41102 said:
Wtf?

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iu
 
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trueblujr2 said:
A number of years ago, my ex-wifes parents, who were well off, were gifting their children some money to go towards their mortgage payments. At the time, the limit was $12,500 from one individual to another because between the two of us we got four checks for that amount totaling $50K, one each from her mother and one each from her father which were all applied towards the mortgage. That was all considered gift and neither us or them had any tax implications. It did become a little bit of a sticking point in divorce proceedings some years later but I was willing to take a little bit of a bath on the house to get out of there. Loving my current home and new wife oceans better.
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You know why divorce is so expensive?

Because its worth it.
 
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images

Remember the day that this dumb, buffoon announced that he was releasing 1 million barrels of oil a day from the strategic petroleum reserve to get the price of gasoline down? That day in my hometown gas was 3.99 a gallon. Today it's 4.29 a gallon. If this idiot didn't have 95% of the media covering for him, his approval rating would be in the teens.
 
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jameslee32 said:
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This one is always fun too. They know James is too lazy to read bills so they can name bills "support the troops bill" then fill it full of pet projects and favors for special interests or anything else and when R's vote against it James says see R's hate the troops. Lol

Both parties do this btw.
 
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BlueThunderstruck said:
Apparently you don’t. You stated that money provided to a person to pay their taxes was income. That’s simply NOT true. It can be income but it can also be a gift or a loan as I previously stated.
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I was talking about income taxes and money given to be paid for income taxes. As was clear when I said income taxes are paid on income.

While recently most of my time was spent in Subchapter K advising clients on M&A and transactional activity while in private practice, I worked long enough with individual tax payers and IRS agents to know 30 years at the IRS isn’t necessarily a ringing endorsement of expertise.

Edit: obviously I’m not going to run through every contingency in the entire body of tax law, which is why I said income tax.
 
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My solution (at least for today) to forget about the mess that Biden and the Dem/libs have/are making of the country.....go outside on a nice, hot, sunny day and mow, trim, dig, etc, etc, etc.
Too distracted while working, and then too hot and tired.

Now, what to do to block him/them out after taking a nice shower.
 
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TopCatCal said:
images

Remember the day that this dumb, buffoon announced that he was releasing 1 million barrels of oil a day from the strategic petroleum reserve to get the price of gasoline down? That day in my hometown gas was 3.99 a gallon. Today it's 4.29 a gallon. If this idiot didn't have 95% of the media covering for him, his approval rating would be in the teens.
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Pretty much the same in my neck of the woods.
 
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Bill Cosby said:
I was talking about income taxes and money given to be paid for income taxes. As was clear when I said income taxes are paid on income.

While recently most of my time was spent in Subchapter K advising clients on M&A and transactional activity while in private practice, I worked long enough with individual tax payers and IRS agents to know 30 years at the IRS isn’t necessarily a ringing endorsement of expertise.

Edit: obviously I’m not going to run through every contingency in the entire body of tax law, which is why I said income tax.
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BC I’ve been sitting back and enjoying this actually 🍺
 
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Dirtbag Democrat Gene Sperling just now standing in front of the Whitehouse touting Biden's strategic reserve release. I'm almost to the point of puking when listening to these people. I literally had to mute Biden earlier as he spent all of his time bashing republicans instead of addressing the chaos this country is seeing with Gas and Food prices.
 
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Caveman Catfan said:
I took basic tax years ago. At that time, once the federal gift threshold was met, the recipient had taxable income.
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Don't don't what "years ago" was.

But from above post:

"Lifetime Gift Exclusion
Another way to dance around the gift tax is the lifetime gift tax exclusion. This is the total amount—$12.06 million for 2022—you’re able to give away tax-free over the course of your lifetime above the annual gift tax exclusion."
 
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trueblujr2 said:
A number of years ago, my ex-wifes parents, who were well off, were gifting their children some money to go towards their mortgage payments. At the time, the limit was $12,500 from one individual to another because between the two of us we got four checks for that amount totaling $50K, one each from her mother and one each from her father which were all applied towards the mortgage. That was all considered gift and neither us or them had any tax implications. It did become a little bit of a sticking point in divorce proceedings some years later but I was willing to take a little bit of a bath on the house to get out of there. Loving my current home and new wife oceans better.
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No problem at all. And can do it every year.

AND they can gift up to $12M in their lifetimes each over that yearly limit with no taxes.

I mean if someone has a $5M estate that their child will inherit, there are no Fed estate taxes at death. So instead, the day before the person dies they give the $5M to the child, someone/anyone thinks that $5M is taxed? LOL.
 
Bill Derington said:
Did you read the article? They fed, clothed them and helped them reach the people they had contact numbers.

I don't get it, it's like you guys look for something to be outraged about.
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Yes. Did you?

“They are being trafficked, sex trafficked. That’s the No. 1 trade,” Mr. Frank, 44, said as he name-dropped from his list of purported conspirators, starting with the late Jeffrey Epstein. “The money, that’s where it’s at now,” he said.

“We haven’t heard about migrant children brought in to be sex workers or slaves,” said Stacey Sutherland, an official with the Arizona Anti-Trafficking Network. “At the border, it’s overwhelmingly people who paid to be smuggled.”
 
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