Q. My in-laws are being gracious enough to gift $40K. How should the money be transffered so as to avoid having to pay taxes on it. We are a family of four, myself, wife, and two sons (ages 5-9). If the answer involves giving gifts to the kids, how does gift money get to hime builder?
A. You have no tax consequences from the gift although your in-laws might as gift taxes are assessed on the donor, not the recipient. The annual Gift Tax exclusion amount is currently $12,000 per recipient for each donor. To avoid the Gift Tax, they each can give you and your wife $20,000. Bingo, no Gift Tax.
What are some good gift ideas for a pollyanna gift game christmas party?
Q. Some friends and I are having a pollyanna gift giving party/christmas party. We set a $20.00 or more price limit and it's for a group of 14 years old. It's also a mixed party so I need gift ideas for something both girls and guys would like. Thanks !
A. Christmas is the time of year when many families spend more money than they have to create a holiday to remember for their children. With the economy in a downward spiral, saving where you can is important. Christmas is a time of giving, and this is a perfect chance to teach your children to give back.
Giving back
There are many families that are in worse economic shape than you are. Taking the family to a soup kitchen to volunteer during the holiday season will help make it memorable for everyone. It will also help your children appreciate what they have much more.
Thrift and consignment stores
Shopping at thrift stores you can find many items that can be the perfect gift for your child. Most items are gently used and look brand new. You may find the occasional new item that still has the tag on. Starting in these stores is the perfect way to find a multitude of gifts at a fraction of the cost.
Dollar stores
Looking at stores such as the Dollar Store or Five Below you can find some great gifts at a cheap price. Purchasing several of these types of gifts can help fill under the tree and stockings. This can help save money while still making Christmas look plentiful.
Pollyanna
If you have a large family buying many gifts can be daunting. A fantastic way to save money is to do a Pollyanna gift exchange. This is basically putting everyoneâs name in a hat and drawing a name of one person to purchase a gift. This will save an enormous amount of money. Instead of buying gifts for ten people you will only be buying for one person.
Cut your gift list
When economic times are good, giving to everyone can make one feel wonderful. Now may be the time to take a look at the list of people you normally give gifts to and decide who you can eliminate from gift giving. This will probably be the hardest part to do as you donât want to offend anyone. You can choose to give a nice Christmas card instead. In these times it is necessary.
The important thing to remember is Christmas is a time to enjoy your family and appreciate your loved ones. While it may be a challenge for children to understand making a memorable Christmas does not mean you have to spend a lot of money.
http://www.helium.com/items/1966249-how-to-save-money-during-christmas
http://www.ehow.com/how_2129680_pollyanna-kris-kringle-gift-exchange.html
http://www.amazon.com/gp/forum/cd/discussion.html?ie=UTF8&cdForum=Fx20DX5GEB7TUX8&cdThread=Tx2NSJIRUIC7458
http://ask.metafilter.com/78999/Games-to-play-at-a-Christmas-Party
your can search in these sites also
Giving back
There are many families that are in worse economic shape than you are. Taking the family to a soup kitchen to volunteer during the holiday season will help make it memorable for everyone. It will also help your children appreciate what they have much more.
Thrift and consignment stores
Shopping at thrift stores you can find many items that can be the perfect gift for your child. Most items are gently used and look brand new. You may find the occasional new item that still has the tag on. Starting in these stores is the perfect way to find a multitude of gifts at a fraction of the cost.
Dollar stores
Looking at stores such as the Dollar Store or Five Below you can find some great gifts at a cheap price. Purchasing several of these types of gifts can help fill under the tree and stockings. This can help save money while still making Christmas look plentiful.
Pollyanna
If you have a large family buying many gifts can be daunting. A fantastic way to save money is to do a Pollyanna gift exchange. This is basically putting everyoneâs name in a hat and drawing a name of one person to purchase a gift. This will save an enormous amount of money. Instead of buying gifts for ten people you will only be buying for one person.
Cut your gift list
When economic times are good, giving to everyone can make one feel wonderful. Now may be the time to take a look at the list of people you normally give gifts to and decide who you can eliminate from gift giving. This will probably be the hardest part to do as you donât want to offend anyone. You can choose to give a nice Christmas card instead. In these times it is necessary.
The important thing to remember is Christmas is a time to enjoy your family and appreciate your loved ones. While it may be a challenge for children to understand making a memorable Christmas does not mean you have to spend a lot of money.
http://www.helium.com/items/1966249-how-to-save-money-during-christmas
http://www.ehow.com/how_2129680_pollyanna-kris-kringle-gift-exchange.html
http://www.amazon.com/gp/forum/cd/discussion.html?ie=UTF8&cdForum=Fx20DX5GEB7TUX8&cdThread=Tx2NSJIRUIC7458
http://ask.metafilter.com/78999/Games-to-play-at-a-Christmas-Party
your can search in these sites also
What is a good cheap gift to give with a gift certificate?
Q. I am getting my families gift certificates to restaurants this year because I am low on money. But I was wondering what would be a good side gift to give along with it. Nothing to expensive but not cheap. I am just looking for ideas.
A. Try combining it with a basket filled with chocolates or other candy. You can get the ingredients you need pretty cheaply, and it creates a very nice package. Suddenly, it's not just a gift card, it's a gift basket. Yossi's Sweet House has some very nice gifts put together, and if you don't want to buy one, you can look at them for inspiration at www.yossissweethouse.com.
Another option would be to purchase some small stuffed animals and tie the cards to them with ribbon. They get to enjoy the card and the stuffed animal reminds them who gave it. This also works well for jewelry and other small items.
Another option would be to purchase some small stuffed animals and tie the cards to them with ribbon. They get to enjoy the card and the stuffed animal reminds them who gave it. This also works well for jewelry and other small items.
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