In America I'm pretty sure it makes a difference who gives you the gift for example family can give other family members gifts up to $10,000 without tax each year or at least I think that used to be the limit. But if it's not a family member I think it's considered differently. It's considered income.
Same with game show winnings the lottery all that stuff they're going to text the hell out of it and they're going to text it even more than if you slaved for it and a lot more than if you just bought a bunch of stock and held on to the stock and borrowed billions of dollars against the stock you wouldn't be text at all. So that's a lesson of how to get rich in America or rather how to have means In America which is don't earn income invest everything into stocks and things that go up in capital gains value and then don't sell them but rather borrow against them because you never pay tax on the borrowed money. And then you get a big life insurance policy so when you die the life insurance policy pays off all the borrowing you did and then your kids get everything that you owned without any of the debt cuz the life insurance policy paid it off and they get that all at a reduced new basis so they don't pay any taxes on that and that's how wealth is passed down in America.
Crackinjokes 1 points 13 hours ago
In America I'm pretty sure it makes a difference who gives you the gift for example family can give other family members gifts up to $10,000 without tax each year or at least I think that used to be the limit. But if it's not a family member I think it's considered differently. It's considered income.
Same with game show winnings the lottery all that stuff they're going to text the hell out of it and they're going to text it even more than if you slaved for it and a lot more than if you just bought a bunch of stock and held on to the stock and borrowed billions of dollars against the stock you wouldn't be text at all. So that's a lesson of how to get rich in America or rather how to have means In America which is don't earn income invest everything into stocks and things that go up in capital gains value and then don't sell them but rather borrow against them because you never pay tax on the borrowed money. And then you get a big life insurance policy so when you die the life insurance policy pays off all the borrowing you did and then your kids get everything that you owned without any of the debt cuz the life insurance policy paid it off and they get that all at a reduced new basis so they don't pay any taxes on that and that's how wealth is passed down in America.