What is the name of your state?Texas
I am getting $50,000 from an insurance setlement case, $25,000 will go to the attorny. I want to give $20,000 to my grandchildren. Is there anyway to eleminate or reduce the income tax I will have to pay? An will I have to pay taxes on the full $50,000?
I am getting $50,000 from an insurance setlement case, $25,000 will go to the attorny. I want to give $20,000 to my grandchildren. Is there anyway to eleminate or reduce the income tax I will have to pay? An will I have to pay taxes on the full $50,000?