Parents wrote me a check for $45,000. Tax implications? My parents recently came into a lot of money and want to gift me $45,000. I honestly feel weird about the about the whole thing, but they have insisted. My dad just wrote me a check for it today, but can I really just take that to the bank? Are their tax implications I should be aware of? If anyone could point me to anything I should think about…

Tax implications on trading in vehicle vs selling yourself Buying a new car for my wife, her existing car seems to generally be listed for around 35k for a similar model with similar mileage. New car will be roughly 50k. The dealership offered me 28k for the trade in. One thing I heard from a friend is if you trade in a car you save on sales tax (in this scenario it looks like we would owe tax on 12k i…

Preview: Rivalry matchups with CFP implications, plus a look at the Big 12 Our college football experts break down the big matchups and storylines ahead of Week 14.

Any limit on how much you can withdraw from traditional IRA? Tax implications? Age 62 I resigned my workplace and rolled over my 401k into what I believe is called a traditional IRA. (Sorry, I don’t know all the terminology). I am age 62. I would like to make a one-time withdrawal of about $300,000. Is this allowed? Does the IRS limit how many dollars you can withdraw at a time or in a calendar year? Also, do I need to check the …

What Are the Implications of Israel Banning UNRWA? Humanitarian agencies fear the new Israeli laws could have catastrophic effects for Gazans. They are already drawing sharp criticism from Israel’s allies.

Tax Implications of Whole Life Insurance submitted by /u/Acceptable-Brief-603

What are the implications of using wide lens vs tele lens for landscape photography? I’ve had 24-105mm and 100-400mm lens for a while and I’ve found myself preferring the tele lens even for landscapes. I think it has to do with the fact that in social media it’s very common to see photos taken with a smartphone, which is mostly a wide lens shot. On the other hand, it’s less common to see landscape photos taken with tele lens, si…

Tax implications on gifted property My parents recently bought 17 acres of property outright after selling our childhood home. My wife and I are starting our family and live within the same town as my parents. We have been given an amazing opportunity where my parents are going to subdivide 3 acres for us to build our home. They would like to give us the property for $1. What are …

Tax implications when selling my house to my son for a few bucks I have had the house for 20 years and I have no mortgage on the home. If I sell the house to my adult son for one dollar, will I or my son pay any large tax? submitted by /u/neomillion

Memes to Millions: The Tax Implications of Sudden Crypto Wealth

What are the tax implications for renting a room to my sister? As the title reads, I’ve been renting a room out to my sister in my home (California). This is our primary residence and we pay the mortgage on it. Wondering if this is considered rental income or if it’s shared expenses and not counted as income. Does it being family effect any of that? submitted by /u/surftherapy