quote:

Originally posted by jerZ07002 what exactly was your point? that doesn't change anything, what i said is still correct.

Um, yes it does. I knew what the answer was before I asked you the question. I wanted some clarity from you about your statements and to see what your answer would be to the question. You answered my question incorrectly, which as a supposed "Lawyer", you should know that it's critical to get the details right when answering legal questions.

The whole point being, that your knowledge is suspect.

___________________
The thing about money? It makes you do things that you don't want to do

quote:

Originally posted by donnybrasco Um, yes it does. I knew what the answer was before I asked you the question. I wanted some clarity from you about your statements and to see what your answer would be to the question. You answered my question incorrectly, which as a supposed "Lawyer", you should know that it's critical to get the details right when answering legal questions. The whole point being, that your knowledge is suspect.

Do some research chief. what exactly is your occupation? please tell me you go to a non-ABA-accredited CA law school; even better, an online law school. That would be some funny shit!

you don't have to believe me anymore, you can take it from 26 USC 2056:

quote:

Internal Revenue Code Section 2056 § 2056 Bequests, etc., to surviving spouse. (a) Allowance of marital deduction. For purposes of the tax imposed by section 2001 , the value of the taxable estate shall, except as limited by subsection (b) , be determined by deducting from the value of the gross estate an amount equal to the value of any interest in property which passes or has passed from the decedent to his surviving spouse, but only to the extent that such interest is included in determining the value of the gross estate. Document Header: Checkpoint Contents Federal Library Federal Editorial Materials United States Tax Reporter Estate & Gift (USTR) Tax on Estates of Citizens or Residents §§2001-2058 The Taxable Estate §§2051-2058 §2056 Bequests, etc., to surviving spouse §2056 Bequests, etc., to surviving spouse. Selected Text Starting At: 2056(a) © Copyright 2008 Thomson/RIA. All rights reserved.

your turn.

Last edited by jerZ07002 on Feb-26-2008 at 21:27

quote:

Originally posted by jerZ07002 Do some research chief. what exactly is your occupation? please tell me you go to a non-ABA-accredited CA law school; even better, an online law school. That would be some funny shit! you don't have to believe me anymore, you can take it from 26 USC 2056: your turn.

Dork;

Get this straight. GO BACK and re-read my original question, YET AGAIN. You answered it incorrectly. EOM!

And AGAIN; I KNOW what the law is. Quoting it to me only reiterates what I already know.

Your ineptness at reading is scary.

___________________
The thing about money? It makes you do things that you don't want to do

/grabs popcorn

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quote:

[11:58] Bas //: fuck he's hot

quote:

Originally posted by donnybrasco Dork; Get this straight. GO BACK and re-read my original question, YET AGAIN. You answered it incorrectly. EOM! And AGAIN; I KNOW what the law is. Quoting it to me only reiterates what I already know. Your ineptness at reading is scary.

This is becoming pointless, but to start i need to address the underlying mistatement: YOU DO NOT PAY ESTATE TAXES WHEN YOU RECEIVE PROPERTY FROM AN ESTATE!!!!!!!!!!!! The estate pays the tax and the estate is essentially the decedent. Therefore, the dead person really pays the tax.

still, nothing i said was incorrect, and in fact, it was 100% accurate. you had a fundamental inaccuracy in your question because you are implying that you pay the estate tax for the dead person, which is not the case. I'll repeat that, YOU DO NOT PAY THE ESTATE TAX. Therefore, you will only pay tax on an inheritance if that money is then part of your estate when you die. (because when you die your interests are represented by your estate). therefore, i fully and accuractly addressed your question because if you want to avoid paying taxes on the inheritance (which can only be taxed again as part of your estate) you can give it to your spouse.

Here's your question so you can absorb what i said:

quote:

Originally posted by donnybrasco Are you saying that if I get an inheritance from a relative, and I don't want to pay tax on it, I can turn it over to my spouse and pay no tax?

Last edited by jerZ07002 on Feb-27-2008 at 00:50

^^^Yes, that's the question alright. REEEEEEEEEAAAAAAAAAAAAADDDDDDDDDDD it. Think about what it says. It's one sentence, so everything in it is inter-related. Get it??????

Your answer is; that I can receive an inheritance from a relative that is "estate taxable", but I can avoid having that tax affect the estate, if I turn around and give it to my spouse.

As I already knew, that's incorrect.

This is why Attorney's aren't worth a shit in this country, everyone...

___________________
The thing about money? It makes you do things that you don't want to do

quote:

Originally posted by donnybrasco ^^^Yes, that's the question alright. REEEEEEEEEAAAAAAAAAAAAADDDDDDDDDDD it. Think about what it says. It's one sentence, so everything in it is inter-related. Get it?????? Your answer is; that I can receive an inheritance from a relative that is "estate taxable", but I can avoid having that tax affect the estate, if I turn around and give it to my spouse. As I already knew, that's incorrect. This is why Attorney's aren't worth a shit in this country, everyone...

this just became ridiculous. the fucking dead person can avoid having the property in his taxable estate by giving it to the spouse. which is what i've been saying the entire time.

Last edited by jerZ07002 on Feb-27-2008 at 00:59

quote:

Originally posted by jerZ07002 this just became ridiculous. the fucking dead person can avoid having the property in his taxable estate by giving it to the spouse. which is what i've been saying the entire time.

Yah, I know that, but that was NOT my question, you imbecile!


Christ. Nevermind.

___________________
The thing about money? It makes you do things that you don't want to do

quote:

Originally posted by donnybrasco Yah, I know that, but that was NOT my question, you imbecile! Christ. Nevermind.

frame your question the correct way chief! what you apparently meant to ask and what you actually asked are different. you asked if you can reduce your tax by giving an inheritance to your spouse. well, you have no tax on the inheritance so there's nothing to reduce; what the hell don't you get about that? apparently, it seems from your ridiculous ranting that you meant to ask (and no you didn't say this) whether by giving the property to your spouse if you could reduce the decedent's estate tax (and because you have no tax on the inheritance, the decedent's estate tax is the ONLY relevant tax). The answer to that is no (but let's remember, you didn't ask that). There is nothing you can do to reduce someone else's estate tax (and yes, it is someone else's tax - the decedent's, not yours), except possibly disclaiming the property.

i'll admit that i glossed over your question, but still, nothing i said was wrong.

/end discussion.

quote:

Originally posted by jerZ07002 frame your question the correct way chief! what you apparently meant to ask and what you actually asked are different. you asked if you can reduce your tax by giving an inheritance to your spouse. well, you have no tax on the inheritance so there's nothing to reduce; what the hell don't you get about that? apparently, it seems from your ridiculous ranting that you meant to ask (and no you didn't say this) whether by giving the property to your spouse if you could reduce the decedent's estate tax (and because you have no tax on the inheritance, the decedent's estate tax is the ONLY relevant tax). The answer to that is no (but let's remember, you didn't ask that). There is nothing you can do to reduce someone else's estate tax (and yes, it is someone else's tax - the decedent's, not yours), except possibly disclaiming the property. i'll admit that i glossed over your question, but still, nothing i said was wrong. /end discussion.

The question was intentionally wrong on two levels;

1.) I don't get taxed, the estate gets taxed

2.) I can't accept an inheritance until AFTER it has been through the process probate and/or being subjected to all applicable taxes.

I know this. I wanted to see what you knew about it. I think my question was pretty obvious, but whatever. Your answer to my question was still an incorrect answer. The RIGHT answer would have been numbers one and two above.

But it doesn't matter much. I can tell from your other posts that you have a bias for the death tax, and I think your reasoning for it is petty and born out of pure jealousy, and it is EXACTLY people like yourself that I find so offensive when it comes to this law.

But I should have known a Lawyer would be all about grabbing as much of someone else's money for no solid reason....makes perfect sense.

___________________
The thing about money? It makes you do things that you don't want to do

quote:

Originally posted by donnybrasco The question was intentionally wrong on two levels; 1.) I don't get taxed, the estate gets taxed

which i said 4 or 5 times.

quote:

Originally posted by donnybrasco 2.) I can't accept an inheritance until AFTER it has been through the process probate and/or being subjected to all applicable taxes.

that's not even relevant because receiving an inheritance implies that the property went through probate. although there are ways around probate (ie, life insurance, joint tenancies, totten trusts, trusts, etc...). but i'm sure you knew about that too.

quote:

Originally posted by donnybrasco I know this. I wanted to see what you knew about it. I think my question was pretty obvious, but whatever. Your answer to my question was still an incorrect answer. The RIGHT answer would have been numbers one and two above.

that's pretty easy to say after i beat the point to death. although all of my statements were legally accurate, and number 2 is either implicit or inapplicable. i suggest if you want to intelligibly converse on this subject you pick up a book about the topic. it's one of the most difficult areas of law and many lawyers who practice in the area have two law degrees.

quote:

Originally posted by donnybrasco But it doesn't matter much. I can tell from your other posts that you have a bias for the death tax, and I think your reasoning for it is petty and born out of pure jealousy, and it is EXACTLY people like yourself that I find so offensive when it comes to this law.

at least you picked up on something. although my position is hardly out of jealousy; my stance is based on economic fairness and eliminating plutocracy.

quote:

Originally posted by donnybrasco But I should have known a Lawyer would be all about grabbing as much of someone else's money for no solid reason....makes perfect sense.

everyone hates lawyers until they need to get out of trouble.

Last edited by jerZ07002 on Mar-01-2008 at 08:22