Paid mine today and it was a doozy.
We took advantage of tax free gifting to our sons, I read the President did so for his girls.
Good for them!! We tried a few times to get our dad to pony up. Glad now he didn't :)
My point exactly. I am not sure why others took it negatively.If you were my daughter, i would have gifted you. :)
" Well, until the law is changed, he's free to do so. As are you and everyone else. "
Well duh that's what we say, it's not what you and Obama say about stepping up to the plate and paying your fair share.
Big difference but I like your idea, we say the same thing.
I kinda felt the same way but was afraid to post it cause I didn't want to seem like I was bashing Obama. Yes he has the right to use this loophole but he seems to preach another story.
It is not a loophole. The purpose is to allow people to give gifts up to a certain amount without incurring a tax. Beyond that the point is to try to prevent tax free wealth transfer. Would you like the government to tax you for any gift you give regardless the amount? SO yes it does sound like you are bashing Obama and haven't actually thought through the purpose of the law.