Questions tagged [gift]
The gift tag has no usage guidance.
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How does gift tax work for unmarried households?
Say Ash, Bret, and Charlie decide to form a household.
Ash has a house that would rent for $10,000 a month, Bret has three extremely expensive cars, and Charlie has a huge collection of very valuable ...
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Can one receive money/gift card for services without work visa in the US?
As a non-citizen, non-PR in the US, I don't have work authorization.
However, there are times when I could participate in activities which would entitle me to monetary benefits, directly or in form of ...
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question about gifts given, can someone legally take back a gift? [duplicate]
A "friend" of mine is currently trying to get back an item from me they gifted, they claim it was given because of mania and I took advantage because I did not decline the gift. I have photo ...
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Becoming a US person after making a gift
US does not have a foreign gift tax. But I had a question on whether someone needs to report it or not. Let's assume I receive a gift from a foreign family member and it is less than 100k$. So as far ...
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The difference between the fair market value of the donated item and the amount of an advantage, if any, is the qualifying amount of a gift
What does "the amount of an advantage" refer to in "the difference between the fair market value of the donated item and the amount of an advantage, if any, is the qualifying amount of ...
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Can my ex take back a laptop he gifted to me? [duplicate]
My ex gifted me a gaming laptop about six and a half months ago. He told me straight ward that he was giving me the laptop. I even offered money to him for it and he denied it. Now he's saying he ...
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Is lending taxable?
Barter is taxable. So are gifts. What about lending objects (possibly for an indefinite amount of time)?
If it is not taxable, would that constitute a loophole for the taxation of gifts and barter?
If ...
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Can an LLC member "reject" an unvested gift of interest from a living member several years after it is given?
I have an LLC. My son and daughter (both over 18) are the only other members. In December 2019, I transferred to my son a capital interest worth $15,000 as a gift and did the same for my daughter. ...
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If a partner abandons his interest, what is the tax treatment for the remaining partners?
Suppose a partnership (such as an LLC with pass-through taxation) has three members. Each owns an equal share of the business, which has a net liquidation value of $300,000. One partner abandons his ...
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Can parents be taxed for giving gifts to children?
Are there scenarios where parents would be taxed for giving gifts to their children, such as on birthdays, Christmas, etc.? Would gifts be subject to gift taxes if the amount exceeds $15,000/$30,000 (...
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Do you have to pay tax when you sell a gifted car?
Assume someone gets a used car as a gift that has a value under $10K. Now, a short time later, he wants to resell it.
Does the law oblige him to pay any taxes arising from the sale? If so, how much? ...
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Can someone Legally Require me to give an Item back to them (A Computer) [closed]
I was recently given a computer, so I could perform certain tasks from my home. The computer is worth around $4200 and I have roughly $600 of my own money in it along with my Time/Labor to build the ...
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I told my friend I'd give him £10 in Bitcoin for their birthday 5 years ago but never did. Am I liable for £0, £10 or £1000?
Two questions.
Firstly, is it enforceable.
Secondly, if it were, would I owe £10 in Bitcoin now, or the amount of Bitcoin at the date £10 would get you 5 years ago?
I believe I've answered the first ...
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Can someone sue me for not giving back the amount of money they gave me as a gift?
I was given an amount of money (less than 2,000$ CAD) as a gift from someone with her confirmation (by message and on paper). At first, I told her that I would accept the gift, but in the future, if ...
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Can someone who gave me a gift (pro camera) demand I give it back?
My ex bought me a pro camera a few years ago (when we were a couple). It cost around 1000 euros at that time. He said that for it I need to make 14 days of photoshooting for him. Since we spent a lot ...
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Can I rescind my conditional gift, which was a vehicle, if the employee is no longer with the company? [closed]
We had an employee who was having car trouble during the pandemic and once the office opened back up we reailzed that paying for her Uber every day was not sustainable. I agreed to gift her my vehicle,...
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How can I get back my dead mother's ring, which I gave to a family friend?
My mother has been dead for a couple of years now and upon her death I received her butterfly ring and her ashes. I had given her ring to a family friend who was like a mother to mine, but ...
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Recovery of gift through civil lawsuit
Say I give someone a vehicle and have preexisting credit card credit that I use to buy it. Then, I want the vehicle back.
Can't I just do this:
Tell a lawyer to buy my debt
Lawyer sues me for ...
user33750
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When a signed contract states that a landlord has gifted white goods to a tenant, does this transfer ownership to the tenant?
If a signed Addendum is attached to a tenancy agreement, stating that 'the landlord understands that the white goods have been gited to the tenant from the start of the tenancy', does this mean that ...
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A gift still being paid for
So, I was gifted a drawing tablet specifically for me on Christmas. Nobody in our home also draws digitally besides me. We're having some family issues so we're trying to leave. But then again theyve ...
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Claiming Gift Aid on conference my non-profit is organising
My unincorporated, HMRC tax-exempt UK non-profit is working on organising a conference in the next year. For the conference, we are charging a fee for each attendee, but reinvesting all money from the ...
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Agreement with family member who wants to pay for home modifications
I have a family member who will live with me in a house I just purchased. They want to make a bunch of modifications to the property and have agreed to pay for these modifications with their money. ...
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Is the restriction on receiving a "present" in the Emoluments Clause applicable?
The Emolument Clause:
No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept ...
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If someone sent me a gift in exchange for a favor and I did said favor can I be required to return the gift?
A friend recently mailed me an X-Box One and a Samsung Galaxy S10 in the condition that I complete Nightwave Season 2 for them in a PlayStation Network Video Game known as Warframe. So I did log on ...
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What laws did Lori Loughlin (and friends) break?
I watched the college admission scandal articles go by earlier in the week without much interest. Today I read College admissions scheme: How Felicity Huffman and Lori Loughlin allegedly participated, ...
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When is a "gift" considered conditional?
I gave my friend an old Les Paul guitar which I subsequently learned was worth a lot, so I wanted it back. I had given it to him only because he needed it for a class. He has dropped the class. Can ...
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Is it acceptable to send flowers to a judge after a routine administrative proceeding?
I recently filed a petition in my county court. While I'm aware it's a routine proceeding for county judges, the judge's grant of my petition means a lot to me personally, and I would like to send a ...
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Can someone legally require me to return a gift they gave me?
So a "friend" in Canada sent me a tablet ( I think it was worth $400 U.S. currency) to replace the one I had that I could barely do anything on. I never asked for one, and I remember repeatedly that I ...
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For a politician, is a lunch outing with Warren Buffet considered a $650,000 gift?
There is a story in the news about Nikki Haley (now former US ambassador to the UN) taking trips in a friend's (and political supporter's) private jet.
See story: Watchdog wants investigation of ...
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Can I get prosecuted in the US for buying and using a stolen gift card?
I bought a $30 restaurant gift card code the other day for $10 from some online vendor and used it at the store as well as my credit card to pay for the rest (so it does connect to me).
It wasn't a ...
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I have multiple Gift Cards for a retailer but they refuse to let me apply more than one per order. Is this legal?
We were recently given a couple dozen gift cards from multiple web sites, but as far as I can tell the same parent company (website design is the same, about us page is the same etc.).
I've already ...
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Is it a crime to receive money from one individual and give it to another individual to reduce their taxes?
I have two relatives, Alice and Betty. Alice wants to give Betty a $20,000 cash gift, but because this is over the $14,000 cap for tax-free gifting, they are concerned about Betty's tax ...
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Can a Chrismas gift be taken back several years later?
My now ex-girlfriend who does not live with me, yet who has stayed here for several weeks at a time as she resides in another state, gave me a TV for Christmas and, now that the relationship has ended,...
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In beer can lottery who gets to keep the prize? Buyer or person who opened the can? Does mutual mistake rule applies to gifts?
I have an interesting situation on my facebook wall.
Take ten beers to a friend's house. One wins a motor.
Whose? Yours or friend's?
Basically in Cambodia there's a beer lottery you open a can and ...
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UK: Can I give money to my brother instead of him paying income tax on a share of my rental income?
Let's say my brother acts as guarantor for my mortgage, so that I can buy a bigger house than before. He does not put his name on the house deeds, and he does not contribute to mortgage payments, I ...
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Why doesn't everyone in UK just pay with exempted gifts?
From what I've grasped from the gov.uk website,
you can gift as much as you like to anyone without paying any tax, as long as you don't die in the next 7 years. So why doesn't everyone just gift ...
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Employer Requires Employees to pay Cash Gift to Owners
Every year an Alabama based small business requires every employee (except for the daughter of one of the owners, apparently) to pay a $30 cash gift that is split between the two owners. In theory, ...
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Can you take back a gift?
Suppose that I unconditionally and unambiguously give a person a thing such as a necklace with a moderate value (say $1000): I hand it to them and say "Here, you can have this, I don't need it anymore"...
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