[pianotech] Our brother's keepers

[johndelmore at suddenlink.net]

I've done a little 'net searching, and it seems that donors pay no gift tax up to $13,000, and donees pay no tax on gifts, as long as the gift are clearly not compensation, or money laundering or anything like that.  So I think we'll all be 'in the clear'.  I'd still like a lawyer or tax guy/gal to chime in, though.

J
---- Jim <jim at jimkinnear.com> wrote: 
> Regarding taxes, if there's no income, there should be NO taxes . .  I think 
> the un-formalized gifts from friends would not count as 'taxable income' . .
> 
> Any tax people out there??
> 
> 
> ----- Original Message ----- 
> From: <johndelmore at suddenlink.net>
> To: <pianotech at ptg.org>
> Sent: Friday, May 01, 2009 10:02 AM
> Subject: Re: [pianotech] Our brother's keepers
> 
> 
> 
> I haven't "launched" yet, waiting for the economy to perk up, but I'll try 
> to send a bit from my 'other' job each month.  I can do without a couple of 
> six-packs!!
> 
> Another thought:  maybe someone has a lawyer son or daughter who could give 
> some pro bono advice on tax matters.  Perhaps there is some structure for 
> these donations that would mitigate the taxes John and family would owe 
> during this long disability?
> 
> John
> 
>