[Joekerr]

Originally Posted by F87LUV

Also, since partners bill out $500+ an hour. I'll be expecting a set of 90mm exhaust tips in titanium finish. Kthxbai.

But you are not a partner...

Alas, you are but a lowly junior, who from big firm experience myself has a recovery rate to the firm of about $85/hr.

Accordingly, I think the only titantium finished tips Mr. Beastmode will be willing to pay for would be ones for your hair...nice little dye job. See...you'll still get the tips.

[F87LUV]

Originally Posted by Joekerr

But you are not a partner...

Alas, you are but a lowly junior, who from big firm experience myself has a recovery rate to the firm of about $85/hr.

Accordingly, I think the only titantium finished tips Mr. Beastmode will be willing to pay for would be ones for your hair...nice little dye job. See...you'll still get the tips.

Because you know anything about me right? WRONG.

[Joekerr]

Originally Posted by F87LUV

Because you know anything about me right? WRONG.

Having a good day are we?

My bad...I went back to your post and for some reason I thought you said you were in process of becoming a CPA...but you already are. You said you were becoming a CFP, I confused the two.

Frankly though, I don't care to know anything personal about you or anyone else on this forum. The less I know, the more conclusions I can jump to. And since that's my only form of exercise, I tend to maintain a healthy degree of apathy.

[The Choosey begger]

Originally Posted by shoei

I has to recheck the tread to see if this was the gold diggers thread...



But alas.. Such is the state of the world...

There's this cute girl at work, it doesn't matter what the fck she says, all the leg humpers are like, OMG you're so smart, you're funny!

And she uses her pussy as leverage every chance she gets. It's sad bc it really takes away from the real smart girls like F87luv.

[okusa]

Originally Posted by F87LUV

If this family member is not wealthy to begin with and doesn't have assets over $5M already (and never will), they won't have to pay a gift tax. Individuals have a lifetime exclusion. For 2016, it's $5.45M. They would need to file a gift tax return for the excess of $14,000 and take the remainder from their lifetime exclusion. No tax will be due from either party.

Edit: if this person is married, they can also split gifts and give $28,000 to each person without tapping into their lifetime exclusion every year.

This is 100% accurate. I am a tax lawyer. Don't try and get "creative" with this. The gift tax return (IRS Form 709) will take any competent CPA about 30 minutes to prepare.

[SYT_Shadow]

For 100k, I've heard there are people who would just put this in a suitcase and drive it to the other person over a weekend.

I've heard those people would not even think twice of this

[okusa]

Originally Posted by SYT_Shadow

For 100k, I've heard there are people who would just put this in a suitcase and drive it to the other person over a weekend.

I've heard those people would not even think twice of this

Tax fraud is tax fraud regardless of the dollars involved.

[kprocivic]

Originally Posted by okusa

Tax fraud is tax fraud regardless of the dollars involved.

Yea, and once your on their radar your fucked.

I've seen some crazy levy shit it my career.

[ASBSECU E93]

Originally Posted by okusa

Tax fraud is tax fraud regardless of the dollars involved.

Only if you get caught....

[SYT_Shadow]

Originally Posted by okusa

Tax fraud is tax fraud regardless of the dollars involved.

Interesting. If I hear of this again I'll let those people know

By the way, I like how 'Outlaw M3' appreciated my post

[okusa]

Originally Posted by ASBSECU E93

Only if you get caught....

Actually it's still fraud. The U.S. tax system is self reporting, so there's nobody to come after you. That's why the penalties are so steep if/when you get caught.

[jtodd_fl]

Originally Posted by okusa

Actually it's still fraud. The U.S. tax system is self reporting, so there's nobody to come after you. That's why the penalties are so steep if/when you get caught.

Fun governor.

[Maestro]

Originally Posted by SYT_Shadow

For 100k, I've heard there are people who would just put this in a suitcase and drive it to the other person over a weekend.

I've heard those people would not even think twice of this

Op, seek professional advise, all the rules about this kind of money has change in recent years. The government gets pissy about money over $10K, they want to know where it all came from. If you can not prove where it came from it become theirs. Since 911 the government treats cash over $10k as drug or terrorism activity. As an example for the last number of years people with money were using LLC's to buy real estate with cash to hid from the public who owns the property, today the government is forcing Title Insurance and Title Transfer company to uncover the actual source of the money coming from the LLC. The government has found that drug dealers and terrorists were using LLC to transfer large sums of money via cash real estate transactions.

What this person above does not know, some how you have to get the cash and if the family members want into the bank and ask for that amount of Cash the next call will be to the authorities.

There is other ways to transfer the money, but it going to cost you money to do it legally and without too many question. My family just set up a family trust and we moved similar types of assets and we had to prove where all the money came from, we just could not move the money in without questions being asked.

The only way I see around this is when your family gets the pay out, they specifically ask for cash from the lottery, no checks and then walk out under arm guard and do what they want. The problem you will have is showing up at a bank and trying to deposit without proof of source. So you could setup 11 account all less then $10K, but this will raise red flags, since banks are required to report all new bank accounts and the SS# that set them up.

There is away to do what you want but it will require a lawyer who specialized in estate planing and a tax accountant. Not a bunch of car enthusist with some knowledge.