gift for her 40th image
Austin
So, I was present for the first two dates. One of which we crashed a slumber party she was at, and the other was playing quarters at a bowling alley. She is getting a cashmere blanket (for sleepovers), and he is getting a bottle of whiskey (for quarters). But I'm undecided on which whiskey. I know everyone's biased on this, but I'm looking at Angel's Envy, Maker's 46, or Belverie Doublewood. It has to be classy looking (stupid, but it's a wedding gift), $40 to 50, and be a solid whiskey. It also can't be something run of the mill. He's a little more "classic" so I'm leaning towards 46 or Belverie. I'm just interested in everyone's thoughts.
Bourbon is good, scotch is bad, and I don't think Crown Royal will be as appealing to a country boy...
Answer
I just gave my bestie some Crown bc she needed a 'Crown' for him to match her tiara. The grooms eyes lit up when they opened that gift. You said he was a country boy, what about Jack Daniels. Of your choices, Maker's 46 has the best taste. You can always get them a smaller bottle of each and ask them to tell which one was the best. Ask at the liquor store if any of your choices has gift glasses with them. They may have a box set in the back or special order from the distillery. Maybe contact the distillery yourself and explain it's a wedding gift of finest quality and see if they can help you get a hold of a gift set.
I just gave my bestie some Crown bc she needed a 'Crown' for him to match her tiara. The grooms eyes lit up when they opened that gift. You said he was a country boy, what about Jack Daniels. Of your choices, Maker's 46 has the best taste. You can always get them a smaller bottle of each and ask them to tell which one was the best. Ask at the liquor store if any of your choices has gift glasses with them. They may have a box set in the back or special order from the distillery. Maybe contact the distillery yourself and explain it's a wedding gift of finest quality and see if they can help you get a hold of a gift set.
How much tax do I owe on a monetary gift from my parents?
schabj3
My parents helped me with a down payment on my house. The gift was $40,000. My dad told me I would be responsible for paying some tax on this, but I'm not sure how much. I don't know the tax laws on this.
Does anybody know how I would calculate this?
Answer
Each parent can give you 12,000 per year tax free. The form 709 is what your parents need to complete to report the gift. They have a life time annual gift limit of $345,800. A tax professional can help them complete the form, if they need assistance. Paying the tax is not your responsibility, but there are situations where the recipient can pay the tax. Visit www.irs.gov for more information.
Each parent can give you 12,000 per year tax free. The form 709 is what your parents need to complete to report the gift. They have a life time annual gift limit of $345,800. A tax professional can help them complete the form, if they need assistance. Paying the tax is not your responsibility, but there are situations where the recipient can pay the tax. Visit www.irs.gov for more information.
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