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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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51252271 No.51252271 [Reply] [Original]

What is the best way of going about this without paying the additional 28% gift tax on my part or forcing them to claim it as additional wages on their part?

>> No.51252278

>>51252271
Marry them

>> No.51252319

>>51252278
Already married.. and it's family

>> No.51252632

>>51252271
To die and let them inherit your stuff

>> No.51253630

>>51252271
If capital gains wasn't cucked to all hell, you could gift them something like $50-$200 in US gold coins and stay well under the $15k/year gift limit. Unfortunately the tax jew has thought of this and will likely assrape your family member for attempting such a thing via an audit. A return to constitutional sound money would alleviate a plethora of tax jew issues.

>> No.51253655

>>51252271
They donate the house to a non profit which assumes the mortgage. You donate the pay off amount to the non profit. The non profit helps people live in homes for free. Your friend/relative is "randomly" chosen.

Unironically why non profits exist.

>> No.51253685
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51253685

>>51252271
>>51253630
>>51253655
anything else?

>> No.51253776

>>51253655
Yeah, just ask your mortgage lender and servicer to permit a transfer from a warm body borrower with documented income to a newly formed nonprofit entity with no revenue.

Sounds like a slam dunk why doesn't everybody do this lol lmao?!

>> No.51253779
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51253779

>>51253630
The tax code in the US is absolutely fucked, designed to make the rich richer. Tax on everything, I'm so sick of it. We need another Boston Tea Party

>> No.51253842

>>51253779
>another Boston tea party
Except a real one, not a fake one made up by freemasons as part of a national Origin Story.

>> No.51253869
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51253869

Also interested

>> No.51254523
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51254523

>>51252271

What do you think of this:
Send 2 checks
1) Gift of $15k - tax free
2) Remainder of mortgage - they would have to claim it as a consulting fee on their W2s.

Might trigger audit?

>> No.51256298

>>51252271
why dont you just hand them physical cash and no one would know

>> No.51256305

>>51252271
>>51252319
Buy it from them and write up a contract which allows them to live in the house for $1 per year in rent for as long as they live. Simple as

>> No.51256312

>>51256305
Also, obviously get a lawyer to draw up the paperwork and confirm whether it's legal to do this

>> No.51257227

>>51256312
Then I would have to pay the taxes every year.

>> No.51257257

>>51257227
let the taxes be their rent

>> No.51257318

Can't you just buy the house off them then sell it back to them for some token amount?

>> No.51257706

>>51257318
Hmmm, I'll have to look into title transfer fees.

I'm thinking a loan at federal min rate [1.8%] forgiven for $15k a year may be the answer.

I'll have to talk to my CPA Tuesday about it.

>> No.51257872

Loan them the money against some collateral ( "art" they have drawn) at 0% p.a. and keep the document detailing the loan private (won't show on credit checks). Or have them default on the loan and repo the art. You can then sell the art at a massive loss to offset capital gains of some other asset.

>> No.51258154

>>51257872
I like it, the Biden way of transfering money to senpai.

>> No.51258168

>>51256305
this. in other countries there are specific types of shared ownership where you can own the thing but the other person owns its usage.