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What else can I help you with?
In British Columbia Canada can a parent gift a car to their child?
Yes. When you fill out the Transfer Papers there is a space to write Gift. Also there is a space to mark $0.00 purchase price so there is no tax. If you buy it to give to the child you have to pay the tax
Can you give a cinema ticket as a gift?
Most do 'gift cards'
Can you pay a promissory note for child support?
Don't do that. Pay your child support through either the courts or the State disbursement unit. DO NOT give any money or anything else to the obligee unless you want it to be considered a gift.
Why are children gift from God?
Each child is a miracle.
What is tommy hilfigers slogan?
give the gift of tommy
Can a parent give a child a monetary gift from their company account?
A parent can give a child a monetary gift from their company account. However, they will have to account for this as a business expense in their books. It can become confusing when it is time to figure profit and loss as well as taxes.
Can a parent give a monetary gift of 13000 cash to and adult child and deduct if from their gross income?
No deduction on your income tax return for gifts to anyone.
What is a customary monetary gift for wedding?
Whatever amount you can afford to give.
What is an appropriate baptism gift for my filipino godson?
A monetary gift would be preferred by a filipino baptismal. If you are the main godparent $200. If you are a subsidiary godparent $100. If you are unable to afford a monetary gift, you may also give clothing appropriate for the size of the baby/child, rosary, bible, or chip in for the bapitsmal/reception/or the baby's attire that day.
What is the monetary amount you can give a soldier as a gift?
In most jurisdictions you may give a soldier, or any other person, any amount you wish as a gift.
If an adult child gives his parents a monetary gift of 12000 cash will the adult child be allowed to write that off on his tax return?
Its recommended you contact a specialist to help you answer this question, but... Yes, If the adult child files the $12,000 as a monetary gift on his/her tax return, he/she should be able to write some or all of that off on his/her taxes (depending on how much money he/she makes in the year), however, the recipient of that gift would then have to pay additional taxes as result of receiving it (Yes, they tax monetary gifts, they tax everything conceivable by the human imagination). Also, Should the parents fail to file that they received a monetary gift of $12,000, this may result in the adult child being flagged by the IRS for an audit, it may also result in the adult child or his parents being charged with a felony/fraud or tax evasion, this is why you will need a specialist. IE: If the adult child did not actually give the $12,000 to his parents, or they did not receive it as a monetary gift and instead it was a form of payment for some sort of goods and/or service, a car for example - in this situation the adult child should actually be paying additional sales taxes instead of receiving a tax break, or if the parents fail to acknowledge that they received a monetary gift of $12,000 at all, the adult child could face fraud and tax evasion charges. -OR- If the adult child actually did give a monetary gift of $12,000 to his parents, and they received it as a monetary gift, the adult child filed it on his taxes, but the parents did not, they could be charged with tax evasion, and possibly felony fraud, or heavy fines with high interest rates, depending on the situation. Its always a good idea to keep records, in either case, it may be best to just not file it at all, depending on the child's relationship with his parents.
Is a monetary gift subject to child support?
A monetary gift is generally not subject to child support. Child support is typically calculated based on the income of the noncustodial parent and other relevant factors, but it does not usually include gifts or one-time monetary transactions. However, it's best to consult with a legal professional or refer to local laws for specific information regarding child support in your jurisdiction.
Your son was invited to a birthday party got sick the day of the party should you still give the birthday child his gift?
Yes, you should still give the child his gift.
What amount can a parent give to a child without being required to pay gift taxes in 2011?
The amount a parent can give to a child without being required to pay gift taxes is $13,000.00.
Is it necessary to give monetary gifts if not attending a 50th wedding anniversary?
You should only give a gift if you feel you want to. However, a card is always appreciated.
What is the maximum cash gift a parent can give to a child without tax obligation for the child?
$100, that is the best value and the highest you can give.
What is a customary monetary gift amount for a 60th birthday party?
Any monetary gift is based upon what you think is right and what your budget can afford.
