i received $20,000 as a gift how much taxes do i have to pay on the $7,000 overage
5.1 million
Federal gift taxes are not paid by the recipient. However, in the rare case where the donor does not have the resources to pay gift taxes they may owe, the IRS might try to recover some or all of the gift from the recipient. The donor may owe a gift tax depending on the size of the gift and depending on what other gifts the donor has given.
$13,000 per person per donee. Unlimited amounts to spouses.
No...not deductible..if a dependent or not. It's a gift....as such, much morte than that and YOU could owe gift tax.
$3750 per month before payroll taxes.
11252.5% of 45000= 2.5% * 45000= 0.025 * 45000= 1125
15 percent of 45000 = 675015% of 45000= 0.15 *45000= 6750
i received $20,000 as a gift how much taxes do i have to pay on the $7,000 overage
$45000 a year is $3750/month.
5.1 million
Taxes that you get from gifts :D
45
As much as she wishes. Over a specific amount will be subject to gift taxes.
45000 rs
$397.25 US Dollars equals 45000 Icelandic Kronur
You don't pay the taxes, the person receiving the car as a gift does.