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Not true. Stop talking out of your ass. If you call it a loan and don't charge interest or charge below market interest, the IRS will tax you on what they say the interest should have been (imputed interest). This is to stop people from getting around the gift tax by calling it a loan.The IRS is only involved if there is interest.
Ah! If found, fair game of any search.They need to get rid of them, because if an auditor finds them, they are fair game for audit. IOW, they're toxic.
Gift tax only applies if the gift is high enough. As I and others have pointed out, a few hundred dollars of free interest doesn't reach that threshold.Not true. Stop talking out of your ass. If you call it a loan and don't charge interest or charge below market interest, the IRS will tax you on what they say the interest should have been (imputed interest). This is to stop people from getting around the gift tax by calling it a loan.
Except that you haven't proven it was a "bribe".It matters when youre taking bribes from the Chinese government, but you already know that.
Right, so it behooves business to destroy records after the maximum time they are required to keep them. Unfortunately, there are a lot of business people who act like hoarders and never want to throw anything away. I can almost hear them now, "You can destroy those records as soon as you make a back-up copy of them".Ah! If found, fair game of any search.
A typical non-sequitur from you.Gift tax only applies if the gift is high enough. As I and others have pointed out, a few hundred dollars of free interest doesn't reach that threshold.
I honestly don’t know how anyone could explain it any simpler.A typical non-sequitur from you.
Like libs do, you are derailing the discussion, either through stupidity or on-purpose, by presenting something completely irrelevant. I'm guessing the former, and am pretty sure you still won't understand why your comment is a non-sequitur.I honestly don’t know how anyone could explain it any simpler.
Speculation is all any of us have, but assuming everything was legit is unrealistic and quite frankly, gay.How do you know it wasn’t a ransom for the Lindbergh baby!
If all you have is wild speculation, then there’s not much to talk about. You could literally do this with any payment to anyone for anything.
You have to report the total amount of uncharged interest on your taxes and it will count against your annual and/or lifetime gift exclusions as appropriate.Family loans rarely have documentation
In this case…..A Check marked “loan”
No, some of us try to operate on facts. I would really encourage you to do so as well.Speculation is all any of us have, but assuming everything was legit is unrealistic and quite frankly, gay.
First off, it doesnt need to be proven in order to hurt your election chances. It has already been proven in the court of public opinion.Except that you haven't proven it was a "bribe".
You ignore the facts. You ignore that Joe has never once explained ANY of these payments to his family. The entire world thinks he is corrupt, but he makes ZERO effort to quickly and easily prove his innocence. You ignore that and act like thats a normal way to behave as a falsely accused man.No, some of us try to operate on facts. I would really encourage you to do so as well.
That’s the strategy all along. Who cares if it’s true? As long as it hurts Biden who cares?First off, it doesnt need to be proven in order to hurt your election chances. It has already been proven in the court of public opinion.
They said it was a loan.You ignore the facts. You ignore that Joe has never once explained ANY of these payments to his family. The entire world thinks he is corrupt, but he makes ZERO effort to quickly and easily prove his innocence. You ignore that and act like thats super normal.
Boo mother-fuckin-hoo. Dont lecture me about using lies to win. Democrats have spent years saying "russia collusion", "the laptop is fake", etc.That’s the strategy all along. Who cares if it’s true? As long as it hurts Biden who cares?
Who said it was a loan? An article? And their proof is?They said it was a loan.
Another GOP ‘Bombshell’ About Joe Biden Turns Out To Be A Dud
Republicans’ impeachment inquiry continues to limp along in the background of their speaker drama.www.huffpost.com
