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csziggy

(34,189 posts)

16. Gifts of up to $15,000 per year are not taxed at all

Reply to Dawson Leery (Reply #5)

Fri Jun 11, 2021, 01:59 PM

Jun 2021

So if the wealthy wants to give that amount to each of their heirs - or anyone else - every year, they can with no tax consequence. So basically they can give away almost as much as minimum wage pays before taxes to anyone they want before they die. Too bad more of them don't.

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A question on the wealth tax. [View all] Dawson Leery Jun 2021 OP

In order to pass through inheritance, assets have to go through probate, a judicial proceeding StarfishSaver Jun 2021 #1

So until Bezos dies ... Xoan Jun 2021 #3

There are some proposals to tax wealth on an annual basis. unblock Jun 2021 #4

If a parent gives 10 gold bars to each child without declaring it in their will/trust, Dawson Leery Jun 2021 #5

True StarfishSaver Jun 2021 #7

The government sees those assets. Dawson Leery Jun 2021 #15

Gifts of up to $15,000 per year are not taxed at all csziggy Jun 2021 #16

That is an inherent problem of a comprehensive wealth tax unblock Jun 2021 #2

That is my opposition to the tax. Dawson Leery Jun 2021 #6

You oppose the inhertance tax because some forms of inheritance can be hidden? StarfishSaver Jun 2021 #10

While we're at it, let's ban divorce because some spouses hide wealth unblock Jun 2021 #12

Having the IRS search through homes will raise constitutional issues Dawson Leery Jun 2021 #14

Yet millions manage well enough with real estate taxes unblock Jun 2021 #11

If the federal government is serious about getting the wealthy to pay their fair share of taxes... Blanks Jun 2021 #8

Abatements cause so many problems -- property tax not the solution JT45242 Jun 2021 #9

We would need to have ALOT more audits fescuerescue Jun 2021 #13