Met With The Lawyer Today.....
06-21-2004, 11:04 PM
#1
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Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
No taxes, the taxes are being taken at the estate level, therefor my dad doesn't have to pay personal taxes on it.... so his $500,000 = $500,000 
About the only good ******* news I have had all month.
About the only good ******* news I have had all month.
06-21-2004, 11:08 PM
#4
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Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
Yea the only thing he's gonna get taxed on is his retirement payout, but **** that's only $112,000 nothing compared to the inheritance. In 5 years they are going to completely do away with inheritence tax, no estate, no income... nuttin. In this case there will be $600,000 paid in estate tax, but that will come out before the payout is made.
06-22-2004, 02:16 AM
#8
Junior Member
Join Date: Feb 2004
Posts: 26
say.. does your dad have a few grand to toss around? i wouldnt mind having a FD... or a TII for that matter... i'll pay him back after i graduate college in a few years
-Adam
06-22-2004, 07:13 AM
#9
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Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
I don't think he's tossing **** around, I think he's gonna buy his house in cash and bank the rest, however he is giving some thought to buying some land and tossing spec homes on the lots and flipping them.
