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It's not THAT easy. Gifts are taxable: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Frequently-Asked-Questions-on-Gift-Taxes http://www.irs.go
by d2vid 14y ago
It's not THAT easy. Gifts are taxable:
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Frequently-Asked-Questions-on-Gift-Taxes http://www.irs.gov/Businesses/Small-Businesses-&-Self-Em...
So are trust fund transfers:
http://en.wikipedia.org/wiki/Generation-skipping_transfer_tax http://en.wikipedia.org/wiki/Generation-skipping_transfer_ta...
- danielweber 14y agoAt anything like a 50% estate tax, a 20-millionaire can just hire a bunch of family members at $100,000 a year and lose less in income and payroll taxes. It's not 100% trivial, but there is an entire industry devoted to helping people with this. That industry really shouldn't exist.