I am not a tax lawyer but I have a friend who is and I will ask in morning just to verify. In the mean time I learned something new, do not give away more than 5 Million dollars. Not that I will ever have that kind of money to give unless I win the lottery of course. Gift Tax Basics It is often said that it is better to give than receive, but as far as Uncle Sam is concerned, it is better to receive. According to the IRS, the recipients of gifts do not have to pay taxes on gifts they receive, but a federal gift tax applies to individuals that give gifts that exceed $13,000 in value to a single person over the course of a year. When you give more than $13,000 in the form of cash or property to another person, the excess is subtracted from a $5 million "unified credit." If you use up your entire unified credit during your lifetime, further gifts that exceed $13,000 are subject to a gift tax. http://budgeting.thenest.com/wedding-gifts-taxable-23407.html
Things like gay marriage and climate change are mostly rhetorical weapons for the left. How many "real" gay marriages are there that want to be catered or photographed by conservative Christians? How many real policies for climate change are there when even a carbon tax is often off the table and Obama makes us the number one oil producer? American progressivism is becoming synonymous with anger and divisiveness because that's what they do. It's not really working according to polls and elections but their echo chambers are so solidly constructed that their thought leaders can't admit to their failures.
Well, I guess if you're going to take a stroll through the Forest of Irony, you might as well run into every tree ...
One of the problems with gays is that in their lust, they turn their own "marriages" into a hateful farce by using them as a tool for lawsuits. The only irony there is that marriages are supposed to be about love, not belligerence.
Here's how it works. A donor can give $14,000 per person per year to non employees, not in exchange for value, generally, each and every year without incurring tax as the donor, and no tax on the donee no matter how much a donee get in gifts per year. So grantor giving to family members can give each individual that amount without any estate tax exclusion ramifications. You can give more than that per year and not pay taxes, but amounts over $14,000 per year per individual donee are subtracted from your lifetime estate tax exclusion, which is currently $5 million last I checked. That's a significant amount of gifting, and in the case of married couples, each person gets the $5 mill exemption, which means a married couple can give away up to $10 mill of gifts over $14k per donee per year over their lives... or not give the excess gifts over $14k per person per year and have their estate still be able to subtract the exemption from the value of the estate. In this case, though, I don't know how the IRS treats fundraising through these types of sites. In all likelihood, if the donors are not getting anything in return, they -should be- considered as gifts unless some weird IRC code provision applies and makes them income. Without researching, these will probably be tax free gifts to pizza family. Here's the wiki page in case anyone is interested, it -looks- accurate to me, but of course can't vouch for it and anyone contemplating giving away significant amounts of money should always talk to accounting or legal counsel licensed in their jurisdiction before doing so. http://en.wikipedia.org/wiki/Gift_tax_in_the_United_States The site says donations are now closed at $842k and change. Nice work if you can get it, being irrationally hated on by the LW zealots.
And half of them don't even bother to read the actual story. Some think a gay couple sitting there at the establishment were refused service, or an actual gay wedding request was made. Low information voters.
I don't know if the American left is doing the cause, or the Democratic party, any real favors right now. "For what does it profit a man to be right on gay marriage if most people start to think of you as a (*)(*)(*)(*)ing (*)(*)(*)(*)(*)(*)bag?!?" - Me
It makes a BIG difference as all of our law since then is based in the Constitution. I don't see being gay there.
Ahhhh.... here we go - protected classes. Let me ask you this - when we're talking about discrimination, should not the burden of proof be on the discriminator and not on the person being discriminated against?
Quick somebody give me the number to a gay group. I'm gonna need one or two groups to talk (*)(*)(*)(*) about me in the media and online. I'll split the money with them 70/30 since my name will be the one getting dragged through the mud. $600k, this is probably the best thing to ever happen to that piazza place. I guessing local business is booming as well
Mad, no.... I laugh at the idiots who sent them money... This law didn't do anything... it is pure right wing political theater. So what, is someone going to be arrested based upon this law? Is someone not going to be arrested because they broke another law, because of this law?
Okay. And they are idiots because? Have you ever given money to anything/anyone? It became 'theater' when the lefties lost their ever luvin' minds over it from sea to shining sea. In Indiana, it was just a law. Then the wailing and gashing of teeth by the left over the pizza joint was the icing on the cake. Tell it to the left. They created this mess.
the real kicker is no one except the farthest of the left even cares about gay rights except pinheads at lobbying firms who incite the moronic media drones into making a fuss over a non issue http://www.gallup.com/poll/180398/cluster-concerns-vie-top-problem-2014.aspx
They are idiots because the money given is to support discrimination. I give many thousands of dollars a year away, but to worthwhile and noble causes. I think giving money to support discrimination against gay marriage and to do it by giving money to some people who have suffered no harm is idiotic. So this pizzeria has refused to do something they have never been asked to do.... so they should be given money... you really think that is smart and not stupid logic? I mean, I have had all sorts of conservatives on here and yahoo forums and other places on the internet call me names... should I start a go fund me page for all the harm that has been done to me and you think people who send me money would not be idiots?
Says the guy whose side is completely wigging out over a law that no one broke and no one is a victim of. When you liberals wake up in the morning are you told what to hate or are you allowed to free lance?
Yes, good for them, they have conned a bunch of right wingers into sending them money for no good reason..
Oh good, than we can count on you to speak out against the Muslim owned bakery in Michigan that refused to bake a cake for a gay wedding right?
LOL....Global warming didn't even make the list even though Dear Leader tells us it's the greatest threat this planet will ever face....LOL. - - - Updated - - - We voluntarily send them money because we believe in their cause. OTOH, you would prefer to tax me with the threat of force and use my money for things I totally oppose.
That is your opinion. Should a bakery on the west side of Chicago be compelled to make a cake from a Klan rally? I don't think they should. Good for you. You are called names on forums in anonymity with no personal risk involved. How brave and how liberal.