4 ms·
So what rate do you tag that with? I mean... your partner is clearly in the price bracket of "high class escort," right? How do you justify how much your partne
by balabaster 12y ago
So what rate do you tag that with? I mean... your partner is clearly in the price bracket of "high class escort," right? How do you justify how much your partner is worth on a tax return?
Do you let your partner see your tax return for fear that they claim you don't value them as much as you should? Or do you overvalue them and get overtaxed? Where's the fine line? Or do you agree amongst the two of you that for the purpose of your tax returns you're both "$5 blowjob on the corner for crack" material to keep each of your taxes to a minimum? Who's to argue?
Do the government have to send people around to rate you both to ensure you're not skipping out on taxes? "Well, she's a 10 who could easily score the $8,000 a night which is the going rate at Madame's High Class Escorts down the street. You've been living together for 6 years now and you've not claimed this as a taxable benefit. So you owe us back taxes on $17.52M - we don't care that you only earned $480,000 in that time. Also, we're really not understanding how she's with you knowing she could have made $17.04M more if she ditched you." and handing your partner their business card...
Even using "market rates" as this thread is suggesting is an incredibly subjective affair. Let's say you rent a room some place, at market rate for the area... what's market rate? It's 1 bedroom, 1 bathroom, shared kitchen; but there's mold and clearly the roof leaks, none of the kitchen cupboards shut properly, the hot water doesn't work, the door lock is a wedge of wood in the door jam, you've seen cockroaches. It's rented out by a slumlord, but it's in a ritzy neighborhood. You're in a position where you have to rent this place, it's a dump, you're not sure if you weren't in this situation that anyone else in their right mind would rent it... the rent is $1,500 a month, because of the location.
Your friend down the street takes pity on you and lets you crash in his spare room to save you the indignity of living in this shit hole. Do you get taxed on the place you can afford or the rate your friend could get if he put his spare room up for rent? Given that he doesn't want to rent his room out to a stranger, but he's letting you crash there for free because he's your friend, what is the market rate for that room? The same as the one down the street which is only room for rent on the street? How does "market rate" get applied?
- msandford 12y agoThanks! You've proved my point exactly; it's very easy for it to get ridiculous to try and tax non-monetary gifts.