Someone Had A Good Idea...
(media.greatawakening.win)
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Thought about this this morning. Get a circle of friends and rotate, daily, the same damn $601.
...and just keep circling back. :-)
By all means, put Jen Piss-aki in the memo. 😜
That $601 would be gift income each time and taxable!
You are allowed to give $12,500 per person each year without incurring gift taxes.
It is actually currently $15K per year and is projected to be $16K next year.
Its been a while since I looked into it. It had been steadily climbing.
Thank you, I didn't know the limit. But if they keep passing the $600 around they'll hit that soon enough!
BTW, isn't the proposed regulation accounts with more than $600 of transactions a year?
Ahh inflation... I thought it was 10K because of that roof scene in Shawshank 🐸