So if I work unpaid for my local soup kitchen (or church or women's shelter) for a year and then they give me a new car, I don't have to report that to the IRS?
Well since they were going to the school, they were not aware of what was going on. It gets harmful when they brainwash the child into joining their group to get others to join and give all their time and money to a "cult". Some of these churches have "schools" which they charge the students thousands of dollars to join. In the end everyone loses.
Perhaps you could explain under which circumstances a gift card from an individual is taxable and when it counts as income; or why I am supposed to pay taxes on gifts that I always assumed (and my accountant has always assured me) fall under the de mimimis exception?
No, the "personal" comment was because I asked why her kids do not see their grandpa. There does not seem to be any reason why she can't post the news story that so piqued her interest here.
Yes. There is kind of a rule in teaching that says that 10% of your students will cause you 90% of your grief. Most of my students are delightful. A few are problems. I think that is true in any situation, even on the internet. I belong to another board where one poster caused so much trouble they had to make a special folder for threads she hijacked. She's gone now, and so is her special folder. Life is like that.
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So if I work unpaid for my local soup kitchen (or church or women's shelter) for a year and then they give me a new car, I don't have to report that to the IRS?
Sadly, that's not the way the Code reads.
It gets harmful when they brainwash the child into joining their group to get others to join and give all their time and money to a "cult". Some of these churches have "schools" which they charge the students thousands of dollars to join.
In the end everyone loses.
I thought all this cult business was prompted by something you read in the paper.
Yeah well, that's just, ya know, like, your opinion, man-The Big Lebowski
My quote suggests confusion of nothing. I was not citing an article on gift tax, but on income tax.
I have an MBA btw.
For a student to give a gift of thanks to their teacher?
PumpkinAngel
Did you forget the part of the $11,000 limit that I also quoted?
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