Posts Tagged ‘Dad’
Can my father give me 25,000 for bills and down payment on a home free and clear? Or are there tax penalties?
My dad is going to help me pay off my car and give me down payment money for new house totaling ,000. I will repay half this amount a little at a time. He was going to give me a cashiers check and let me spend it but I’m afraid there will be tax implications. I live in New Mexico. I thought that maybe he could just write the check for the car and give me a smaller amount in cash or smaller gifts separately. What are the rules? Also I will eventually inherit money for the sale of his land that is getting paid monthly through escrow. Is there a way to avoid losing inheritance this way? He currently lives off this money. Thanks for the advice.
Accounting Sites
tax forms?
I was wondering how I can apply and work a part time job, for 2 days a week without it showing up on my taxes or account information. I do not know much about this kind of thing.
I live with my parents and I wanted to have a small job on the side without them knowing about it, being that my dad takes care of all the taxes and check stubs. (he dosent like the employer)
I am over 21, so if I just dont tell them, will it turn up somewhere? And no the employer wont pay “under the table”.
Thank you for your help!
Edith