River ,'Objects In Space'
Off-topic discussion. Wanna talk about corsets, duct tape, or physics? This is the place. Detailed discussion of any current-season TV must be whitefonted.
So, bon, how do the tax laws apply to Teppy's primal fear of inheriting her father's debt?
Don't think they apply, and then it gets a little out of stuff I know. But AFAIK, what Cindy is saying is right: creditors get a crack at the decedent's assets before you do. If the deceased has no assets, I don't think you become liable for the debt.
Does dowry count as a normal gift for taxation purposes?
There are some exemptions for gifts from one spouse to another, but otherwise, yeah.
Sadly, crack transactions are not taxed, due to their not happening in licensed establishments of business
Ah -- bartering for crack. I couldn't see what it mattered what you spent the money on, but I get it now.
If the tax is repealed, then where does that money come from? Raise the income tax?, Cut Medicaid?, Just add it to the debt?
bon bon, I think this is a very important question as a policy matter. The federal budget is at record deficit levels. How can Congress justify reducing income? Is the "fiscal responsibility" party just going to make the deficit keep going up and up?
I couldn't see what it mattered what you spent the money on, but I get it now.
Well, no. What you spend the money on does not matter -- crack or crackle finish on your new living room. What matters is whether you or any of your heirs might ever consider selling grandma's beloved wingding. If the wingding has value, you or your heirs might sell it, and become richer thereby. I think the government is taxing inheritors because the wingding IS money, just not in a format that is easily transacted.
And, really, when does money ever change hands without the government taking a cut? Besides envelopes at Christmas and corrupt accountants, I mean.
And, really, when does money ever change hands without the government taking a cut?
Some places don't have sales tax, right?
What matters is whether you or any of your heirs might ever consider selling grandma's beloved wingding.
Are you suggesting taxing upon receipt as a way to prevent black market profit? I responded to your post thinking that crack was hyperbole, but it's not, is it?
Some places don't have sales tax, right?
Yes. New Hampshire, Delaware are two, I think.
Oregon also does not have sales tax. Washington has a high sales tax, but no state income tax.
Oregon. No?
t x-post
when does money ever change hands without the government taking a cut?
Gifts under the threshold that bon mentioned upthread?