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Not any possible way I could think of, and of course since that's an exchange of value it wouldn't be a gift any more it is the same as them paying for it. So, it would have to be land they want. It is actually fairly hard to gift anything but cash to the Government anyway (they don't want to get stuck with any liability or political issues.
<P>And I can't understand why you would want to get that involved anyway. Paying you cash has the same value as tax credits...which can only be used to pay tax on a $ for $ basis anyway. And cash never expires
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∙ 12y ago
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Is unauthorised person liable to pay credit card bill if he has used someone else credit card with his consent?
Yes, unless the credit card holder told the person that it was a gift.
If I pay off a credit card debt for someone using my own credit card does anyone have to pay tax on it?
Probably not. I think you would have two options on how to classify this. You could either treat it as a loan, ie. you loaned money to someone to pay off their credit card. Receiving a loan is not taxable, but there should be a bona fide expectation that you are going to be paid back. Of course, if you are going to charge your friend interest on that loan the interest would be taxable income. The other option would be to treat it as a gift. As long as you are under the gift threshold (in 2008 you can give someone a gift up to $12,000 and there is no tax) there is no tax from anyone. If you are calling it a gift and it was more than $12,000 you may need to file a gift tax return and pay a gift tax. Note that the person GIVING a gift is responsible for paying the gift tax, not the person receiving the gift.
I was given a car is there a gift tax in Ohio?
There is a federal gift tax if someone gives you more than the $15,000 annual gift tax exemption, and they would need to file an IRS Form 709 and pay the tax.
What do you do if someone promises to give you a gift and they do not give you your gift after all?
Then you are disappointed. That's it. No one owes someone else a gift. A gift is a gift and not an obligation.
Is it possible to gift tf2 store credit?
No. You can only gift the items themselves.
Can you have a 30 dollar gift card to gamestop and trade it in for cash?
No, credit on gift cards, gift vouchers, etc, cannot be redeemed for cash.
Where can one obtain a Visa gift credit card?
One is able to obtain a Visa gift credit card at several different locations such as online where one is able to pre load the gift credit card with money from an online account.
What is the journal entry for gift purchase?
[Debit] Gift purchased [Credit] Cash / bank
A gift left to someone in a will?
what is a gift left in a will
Where can credit card gift cards be acquired?
Credit card gift cards can be bought at many retailers. You can buy them at your local bank, as well. You can purchase gift cards that are reloadable or ones that just have a certain amount on them.
Would you be happy to get a gas credit card for Christmas, or do you think it's too generic a gift?
Christmas is never about getting gifts, but because it is a family tradition and gathering, any gift including a gift card for gas could be welcomed because someone was nice enough to think of you.
Can you get more credit on a game stop gift card?
NO!
