- artie_fufkin
- Administrator
Offline 
- From: God's Little Acre
- Registered: 9/08/2010
- Posts: 22,429
Re: The stupidest shit you ever heard.
"he's on the hook for taxes on this."
I'm sure the IRS will let him slide.
- alz
- Larry Walker
Offline
- Registered: 9/23/2010
- Posts: 2,396
Re: The stupidest shit you ever heard.
artie_fufkin wrote:
"he's on the hook for taxes on this."
I'm sure the IRS will let him slide.
Can't tell if that's serious, or sarcasm.
I can easily see an IRS rep say something like, "Just because you like giving money away, doesn't mean we all do."
- •
Thread Starter- APIAD
- Administrator
Offline
- From: Central IL
- Registered: 9/07/2010
- Posts: 11,090
Re: The stupidest shit you ever heard.
Unless I've read this wrong... Isn't the IRS limit for a gift $10,000.00? Since he bought the $45,000.00 with the house (covered by the abandoned property clause), and gave the property to the kids of the previous owner, he's on the hook for taxes on this.
That will teach you "honorable" man... Dumbass.
When I bought my house the place was stripped clean. Nothing left but some ragged curtains and a built in stove that didnt work. There were no boxes of cash or WWII bullets laying around. I assume the son of the previous owner thought enough of them to remove the property. In this case if the son was to lazy to do it that for his father then I wouldnt feel like I need to give him the money. I would have held it back in a fire proof safe and used it as needed. I wouldnt have dumped it in saving and have the bank wondering how I came up with 50 grand.
I take that back. There was something left in my house for me. I was removing the suspended ceiling tiles in the basement awhile back to run the cable wire to a different area. While doing so I spoted a 6x12 inch caulk board. On it was writen "fuck you dickhead". So I got that.
- forsberg_us
- Administrator
Offline
- Registered: 9/08/2010
- Posts: 9,944
Re: The stupidest shit you ever heard.
"he's on the hook for taxes on this."
I'm sure the IRS will let him slide.Can't tell if that's serious, or sarcasm.
I can easily see an IRS rep say something like, "Just because you like giving money away, doesn't mean we all do."
No tax on the money. The new homeowner is taking the position that the money wasn't his (i.e., it wasn't abandoned).
Returning "found property" doesn't constitute a gift because title to the property never passed to the person who found it.
- Max
- Colby Rasmus
Offline
- From: Pacific Northwest
- Registered: 9/07/2010
- Posts: 5,269
Re: The stupidest shit you ever heard.
i thought the bush administration did away with the estate tax, and thus you can give any amount tax free. i recall there was talk about letting that tax break expire at the end of last year (thereby reinstating the estate tax). not sure what the situation is, and rarely face the prospect of giving, or being given, gifts of money in excess of $10,000.
- Max
- Colby Rasmus
Offline
- From: Pacific Northwest
- Registered: 9/07/2010
- Posts: 5,269
Re: The stupidest shit you ever heard.
The stupidest shit you've ever seen.
When you get outside the bubble that is America, there are a number of views on why the rich world is rich and the poor world is poor. You can imagine that many of them have to do with structural/conspiracy arguments that the rich world keeps the poor poor. It's hard to refute those arguments in all cases, they might even be true in some cases, but once in a while there is an example of glaring stupidity that shows why "stupid is poor".
On the toll road from the airport into the city, they have erected a wall of concrete dividers, to channel traffic away from the center lanes and into peripheral lanes. A solid wall of concrete, many hundreds of yards long. OK. Now, their plan is to paint the wall yellow, with black arrows every 10 feet or so. So, what did they do? They painted the black arrows FIRST, and then had a team of guys with yellow paint and rollers, trying diligently to paint around the carefully spray painted black arrows. WTF?!? Why not paint the whole wall yellow with rollers FIRST, and THEN spray paint on the black arrows???
Last edited by Max (5/24/2011 5:05 pm)