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Questions about gift amounts |
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Ask a Lawyer QuestionCountry: United States of AmericaState: California I am curious about a benefactor-type relationship (i.e. sugar daddy) and whether or not it is considered a job that I need to pay taxes with. I do not see it as a job, but as a relationship in which I am someone's friend and companion and receive $3,000.00 a month as an allowance. Is this a job? Would I be doing something illegally if I was apart of such an arrangement? Or is this a relationship (as I view it) where I am just receiving an allowance as some girlfriends or even daughters receive? AnswerYou often can only be gifted 10,000 dollars per year--after that it is income normally...How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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