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#1
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need some suggestionsOk... here is the problem... I'm currently probating a relative's estate.. but this is not an estate question.. There was a large amount of cash left from a life savings (approx. .5 million).. I have already maxed out the estate max (675K) in property and I don't want to go over... there must be some legal way to matriculate this money into an account without the money being seized and me audited.. It's awful to think that I have to resort to underhanded ways for "laundering" legal money.. taxes have already been paid on all this money and I don't want to have to pay them again. ... what can I do? |
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#2
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| When you say taxes have already been paid on all the money, I assume you mean that income taxes have been paid on it when it was earned. If this money was owned by the decedent, then the law requires you to include it in the value of the estate for tax purposes and pay the estate tax on it. If you do decide to “launder” this money, remember it is not “legal money.” It is part of the estate, and the law is very clear on that. To hide it would be a felony. |
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#3
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| so.. in essence the money must be taxed twice in order for it to be legit.. ?? It really doesn't bring out my patriotic side to have big brothers hand in my pocket all the time.. I was just hoping that there would be some other way.... but thanks anyway. |
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#4
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| How do you think Big Brother got so big? |
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