Do I have to pay taxes on a car I received as a gift?
If it's in your name Yes you do.
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Yes, the gift is income and must be reported on both your Federal and State income taxes (Local income taxes too if you have those), if its value exceeds the gift limit.
The value of a new car will definitely exceed this limit and will have to be reported. A used car may not have to be reported, if it is old enough.
Check with a tax professional if you have trouble finding the gift limit to check if you must report the gift income on your returns.
What are some birthday gift ideas for a 14-year old boy?
depending on how much you want to spend something tecky i find a great site for tech wizzes is iwantoneofthose.com its amazing try something like a cool toy car or something like that
What are the hot Christmas gifts this year?
for young girls is the new Justin bieber CD for boys its new video games for men its tools for women its house hold items like towels and dishes for teens just give them money to go out and do something with it or buy their own presents
What is the best birthday present you can give to your best friend on her 14th birthday?
Hi,
A good thing to do if you want to give her a really good gift is pair up with another few friends and buy her something expensive that you wouldn't normally buy her. Ask her what she would like and get her something special.
Hope this has helped :)
Hello,
You want to get something that she/he really likes, so i assume that since you are best friends that you know his/her likes-dislikes but i would say that if you where to team up with some other friends buy her/him an (apple product). i hope that all goes well
Do you give give gift at a going away party?
What is the gift for a 29th wedding anniversary?
There are no traditional gifts for a 29th wedding anniversary. The modern gift for a 29th wedding anniversary is new furniture. You can give a couple a gift for their home or something that you know they will like for their anniversary if you do not want to use the modern gift idea.
What is a proper gift for someone going to the military?
Something useful that can be used daily, such as camouflage bedding sets that have army style.
Where can one find Baby Moses baskets for sale?
There are many places that Moses baskets can be found for sale. A few of these include Walmart, Toys'R'Us and Tesco. Amazon and eBay wil also sell them.
Where can one find girl gift ideas online?
To find a gift idea for that special girl in your life, check out websites like Gifts, Find Gift, Uncommon Goods, Personal Creations, and Personalization Mall.
Without paying gift tax what is the legal limit I may give my son or dtr per year?
If you gave any one person gifts that are valued at more than $15,000 (in 2012), you must report the total gifts to the Internal Revenue Service and may have to pay tax on the gifts. The person who receives your gift does not have to report the gift to the IRS or pay gift or income tax on its value.
Gifts include money and property, including the use of property without expecting to receive something of equal value in return. If you sell something at less than its value or make an interest-free or reduced-interest loan, you may be making a gift.
There are some exceptions to the tax rules on gifts. The following gifts generally are not taxable and do not count against the annual limit:
If you are married, both you and your spouse can give separate gifts of up to the annual limit of $15,000 to the same person without making a taxable gift.
Alternatively, with consent from your spouse, you can make a gift of up to $30,000 ($15,000 x 2) to the same person without making a taxable gift. This is commonly known as splitting gifts between spouses. Essentially, it means a gift by you or your spouse to a third person can be considered as made one-half by each of you provided there is consent by both spouses.
What are traditional anniversary gifts in the U.S.?
Traditional gifts go beyond cards and chocolate...... Most anniversary years have been assigned a specific "traditional" gift material, such as Gold, Silver, Coral, or Copper. Giving an anniversary gift made of these materials is said to bring good luck. Traditionallly speaking, if you wish to give an anniversary gift you should give a gift that is made of the material that corresponds with the number of years that the couple has been married. Lists providing you with the traditional gift material for each year is readily available online. For the "odd" years that have not been assigned a traditional gift material, there is a "modern" anniversary gift material that has been assigned to every year from 1st Anniversary through the 70th Anniversary (if one is lucky enough to reach that great milestone)!
Where can someone purchase large gift boxes?
Candy gift boxes can be purchased through various online retailers including vendors like "Candycrate". In addition, the local mall offers various vendors. If you wish to make your own candy gift boxes, supplies can be attained from craft retailers such as "Michael's" or "Walmart".
How do you pay for an item using your target gift card online?
Actually, you can use it online or in-store. Just go through the normal checkout process and enter you gift card number when prompted for payment information.
Happy Shopping!
What are some gift ideas for women?
Here are some Ideas... Jewellery, Make-up(not foundation because it might not be their colour), Rings.. They love rings especially with glass gem's, Soap and Moisturiser, Roses.. Chocolate or real... (DO NOT GIVE THEM FAKE ROSES) just because, Tulipsdefinitely, You could write and perform them a song (they will LOVE that because they know you have put effort into it). You really need to give them something that when they use it or look at it they will remember it was a gift from you Hope that Helped.
Preteen girls are always interested in perfumes or lipgloss. if it's your daughter you might want to try getting her a light perfume such as baby soft perfume or berry scented. if you feel that won't work you could try getting cupcake, vannilla, or candy flavored. There is a store called Bath and Body works and they have very great stuff there. they have candels (lighted or no flame) and lip gloss, scented lotions, perfumes, candles, lipgloss, hand sanitizer, body spray, perfume, bath fizzes, shower gel, bubble bath soap, nail polish, and air freshener. if your daughter is still young at heart then you should try a store called Justice. they have a bunch of cool things there for your room, they have clothes and girl-like toys.
This is just what i would like since I'm 11 but most stores that involve aromas and clothes will work just fine. and if your not sure what they like, don't be afraid to ask them, but don't get exactly what they ask for, or they won't be surprised. remember, you can always get them giftcards and they will be very happy.
Merry Christmas!
What company provides the best gift baskets offer?
If you are looking to celebrate an occasion and make it last forever, and don't want to settle for anything less than a gift basket can be the perfect gift solution for any occasion. It doesn't matter whether it's your favorite family member, birthday gal or guy, your friend, teacher or business associate.
There are many different gift basket types which exist that you can easily choose from. In fact, you can find an awesome collection of scrumptious, gourmet goodies for every week of the year and a different kind for every special occasion or individual in your life without repeating your selection even once! The following are just some of the types of gift baskets out there which you can choose from.Different Types of Gift Baskets
Below are examples a few of the different types of gift baskets you can send by mail for any occasion.
New Baby Gift Baskets:
Somebody expecting a baby? Why not put together or choose an adorable baby basket just for a baby girl or baby boy from one of the online sites that sell good quality gift baskets. Specially made baby baskets are perfect for baby showers, or for welcoming a new baby home from the hospital and is even suitable for congratulating the new parents on their little pride and joy.
Bereavement Gift Baskets:
Sympathy baskets are always appreciated, because they bring much-needed comfort to the grieving family of the departed. Gourmet gift baskets are filled with the finest gourmet treats that sooths the soul and brings comfort to those who need it.
Gourmet Food Gift Baskets:
What could be a better gift for birthdays, retirements, weddings, graduation parties, and anniversaries than a tempting basket of gourmet treats, beautifully packed in a neat gift basket.
Get Well Gift Baskets:
Cheer up a sick friend with a get-well-soon gift basket. You can choose from a specialized selection of items that can be chosen only for women or just for men. A gift basket is the perfect way of letting them know that you are thinking about them as they are recovering.
Holiday Gift Basket Themes:
You can also find a unique gift basket that's fit for every holiday such as Halloween, Thanksgiving, Christmas, Easter, Mother's Day, and Father's Day, Ice Cream Day whatever. Holiday gifts are perfect to send my mail or to take along with you when visiting your friends or family.
Conclusion:
Gift baskets are the perfect way to express your sentiments, no matter what the event or occasion. If you are hoping to surprise the recipient, choosing a personalized gift basket by type and theme is the best and simplest way of finding a great present without even leaving your home.
What is a good gift for 21st wedding anniversary?
Having recently just turned 21, I am certain that experiences count for more than gifts at this age.
However I would suggest the following:
GIFTS: (Something to keep)
EXPERIENCES:
Theres loads of things you can do for your 21st to make it really special.
What are some gift ideas for the 18 treasures for a debutant?
A sample could be either a compilation of her preferred music, a certain piece of jewelry, or even a t shirt that practically screams her personality. As long as you think that it may be of use to the debutante or if it is a perfect description for her, then it's fine.
What are some really sad romantic teen movies?
I would have to say these are my top 5 (not in a specific order)
the notebook
Tristan and isolde
titanic
p.s i love you
time travelers wife
a walk to remember
the other Boleyn girl
The 18 symbolic treasures are also known as the 18 gifts. It is a part of a debut: 18 people chosen by the debutant will explain their gifts during the event.
Where is the best place to buy a baby shower?
If an expectant mother wanted to buy some baby shower supplies there are a variety of places where one can do so. Some of these places are Tesco Party and Baby Center.
What is an appropriate gift for a male business client?
I think an appropriate gift you could give a male business client would be a gold money clip. These make great gifts for business associates. You can find some professional and classy gold money clips to choose from
What is a traditional gift to give a bride from her mother?
Traditionally a family heirloom piece of jewelry was given, or if one wasn't available, a sentimental family piece with historical significance (something usually owned by grandparents and great-grand parents), including blankets, tablecloths, a pillow, a special piece of furniture, etc. However this custom has become less popular in modern years for both moms and brides alike-for moms because the average person doesn't keep things for as long as they used to, and for daughters because the modern culture does not have as much of an appreciation for old things, and instead cherish things that are new and just for them. The primary thing a daughter wants is for the mother to share in the joy of the moment, and to know that their mother is proud and is as happy for the bride's new life journey as the bride is for herself. An intimate, but exquisite card, note or letter is the perfect modern medium to convey this.
It is the perfect way to commemorate the bride's wedding and makes as a great gift and decorative piece for the home. Additionally, this can be made as a future heirloom by keeping names general, ensuring that your daughter can pass it to your granddaughter, and your granddaughter to your great granddaughter.