Quote:
Originally Posted by Bob Denman
It's not my money... 
But I vote for splitting it in half, and sharing it equally! 
What is half of zero?   |
In the State of Texas the presumptive value of my loss is $20,000. If I split the presumptive value with you and Ted that is $10,000 each that each of you would need to report as income on your taxes. I am sure both of you wish to follow the law. Because I always withhold any potential tax liability from payees as to not get crossed with the Federal Government, I think to split equally...
you and Ted both owe me $2,000 each; so I can actually pay the taxes up front. Then because it is given I am broke; you may file a gambling loss of $2,000 each on your taxes. I think that works out best. If you need me to get an attorney to help you with the payments to me; let me know. It is the least I could do
Thor Forums
