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Pastimes : Whodunit? Two Stockbrokers Murdered in Jersey; No Clues -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (344)11/1/1999 2:03:00 PM
From: jhild  Respond to of 1156
 
I would speculate that the March Leasing entity in FL may have had a similar purpose of shielding his "car" assets.



To: EL KABONG!!! who wrote (344)11/1/1999 2:31:00 PM
From: IceShark  Read Replies (1) | Respond to of 1156
 
No doubt the thing is mortgaged to the hilt, so the net gift per year would be small. I think he would have bigger tax problems with stock scam proceeds. What am I talking about? He has no problems anymore. -g- Sorting his tax life out would be a nightmare if you really wanted to do it correctly. If he had any spare assets someone better run away with 'em right quick 'cause there ain't goin to be nuttin left when the smoke clears.



To: EL KABONG!!! who wrote (344)11/1/1999 5:23:00 PM
From: The Duke of URL©  Respond to of 1156
 
>> Hmmm... If that's true, then I wonder if any IRS gift tax(es) would be due on the value of the "gift" of the estate, which was reported to be $1.1M at purchase about a year ago...<<<

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I think what can be inferred is not that he was delinquent in his gift tax returns, but that the real ownership was never intended to be transferred.


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