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To: Tommaso who wrote (96891)2/17/2008 11:36:11 AM
From: Logain Ablar  Respond to of 206146
 
Now $12,000 b/4 gift tax kicks in.

Look @ Gates and Buffett, giving now to charity shelters (up to 50%) their current income and their estate doesn't lose 55% to the gov't.



To: Tommaso who wrote (96891)2/17/2008 11:53:56 AM
From: elmatador  Respond to of 206146
 
While some Americans switch to fuel-sipping cars, their old gas guzzlers just won't die. Lowered trade barriers are giving them new life south of the border.

Some U.S. firms have glimpsed the future. Used-car dealers from Mexico are the fastest-growing group of buyers at Manheim auto auction in El Paso, according to marketing manager Erika Ortiz.

To better serve them, the company is considering opening a service center in Juarez where they could bid for U.S. cars online without having to cross the border. Most of the auction's staff is bilingual. Even auctioneers who speak only English have learned to rattle off prices in Spanish.

latimes.com



To: Tommaso who wrote (96891)2/17/2008 3:02:00 PM
From: vireya  Read Replies (2) | Respond to of 206146
 
Geeesh, you sure they gotta use the cost basis when I gave them to the kids (inheritance may be different from gift - and inheritance was what I was alluding to) Since I am from USA, I think I recall our tax lawyer used the basis which was the day my Dad gave me the inheritance of the precurser to KMP. There my cost is now about 10, so Im getting there



To: Tommaso who wrote (96891)2/17/2008 3:31:32 PM
From: Paul Kern  Respond to of 206146
 
You could give 12k in 2007 calendar year but, it was better than that, you and your wife could each give 12k to each so that's 24k. Wash rinse, and repeat it the next year when the limit will probably go up a bit, and so on.

Pretty soon you're talking about real money.

Check with your broker, accountant, or attorney who should know more about these things than the folks here on SI.


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