The Secrets of
Business and Marketing Wizardry Newsletter
Volume 8, Issue 6, Date 6/9/2004
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THE SECRETS OF BUSINESS AND MARKETING WIZARDRY
VOLUME: 8 ISSUE:6 JUNE 2004
Publisher: Joe Trevison MBA; CPA.
Co-Publisher and Editor: Cheri Carlson
Co-editor: Jim Trevison, Junior at Edinboro University, Edinboro PA
In this issue: "What to do with Money when you have legal problems?" Author: Joe Trevison
I do not talk about taxes very much in this newsletter because you told me in a survey you rather I discuss Marketing and Business.
However I have had this question several times from my tax clients.
They received money from an inheritance. Not a fortune to retire on, but a nice amount.
One client was given a $50,000 inheritance from the death of his mother. There is no Federal tax in this case. But for personal reasons he had to get it out of his accounts and positions. He gave the amount to his brother.
You can only give $11,000 away without filing a gift tax return. However if the brother had a wife and 3 children he could give each of them $11,000, wiping out any need for a gift tax return.
But, what can he do if his brother didn't have a wife or children? This one was easy as one of my accountant associates reminded me. He could give the whole amount as a loan or part gift of $11,000 and the other $39,000 as a loan. Payable 20 or 30 years in the future, and don't forget the brother has to pay my client interest on the loan. That rate has to be at FMV, call a bank for the current rates of loans.
Next Month: July issue: Initiative and Leadership to profit
P.S. Do you want Instant Cash Quickly? If you have the right Assets I can get you the money. What are these Assets? You can discover this very easily by downloading my FREE Brochures. Download at: Factoring If you have these Assets, call me at 814-456-2601 or email me at Joetrevis@aol.com
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| Copyright Joseph J. Trevison Not to be reprinted, resold, or
redistributed for profit, except with written permission, but may be freely distributed electronically provided that the entire
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