I've done a little 'net searching, and it seems that donors pay no gift tax up to $13,000, and donees pay no tax on gifts, as long as the gift are clearly not compensation, or money laundering or anything like that. So I think we'll all be 'in the clear'. I'd still like a lawyer or tax guy/gal to chime in, though. J ---- Jim <jim at jimkinnear.com> wrote: > Regarding taxes, if there's no income, there should be NO taxes . . I think > the un-formalized gifts from friends would not count as 'taxable income' . . > > Any tax people out there?? > > > ----- Original Message ----- > From: <johndelmore at suddenlink.net> > To: <pianotech at ptg.org> > Sent: Friday, May 01, 2009 10:02 AM > Subject: Re: [pianotech] Our brother's keepers > > > > I haven't "launched" yet, waiting for the economy to perk up, but I'll try > to send a bit from my 'other' job each month. I can do without a couple of > six-packs!! > > Another thought: maybe someone has a lawyer son or daughter who could give > some pro bono advice on tax matters. Perhaps there is some structure for > these donations that would mitigate the taxes John and family would owe > during this long disability? > > John > >
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