BerettaCougar
New member
So we pay income tax, it comes directly out of our paychecks.
We have no say where the money goes, and what it will help pay for.
Then when we go to spend the remaining amount we get taxed again.
Same thing, we have no say where the money goes.
Income my grandfather made over his life was taxed, when his estate was distributed to the family as part of his living will, the gov. taxed us on that.
These are things he ALREADY paid taxes on, like his property taxes for both of his properties. The money he had stashed away in his savings all came from decades of working manual labor, paying taxes all along.
I just don't see how my father can work for his income, get taxed on it, then when he gives me money for the down payment of my first house I have to pay a gift tax on the same money that has already been taxed!
Maybe someone can fill me in on this subject.
We have no say where the money goes, and what it will help pay for.
Then when we go to spend the remaining amount we get taxed again.
Same thing, we have no say where the money goes.
Income my grandfather made over his life was taxed, when his estate was distributed to the family as part of his living will, the gov. taxed us on that.
These are things he ALREADY paid taxes on, like his property taxes for both of his properties. The money he had stashed away in his savings all came from decades of working manual labor, paying taxes all along.
I just don't see how my father can work for his income, get taxed on it, then when he gives me money for the down payment of my first house I have to pay a gift tax on the same money that has already been taxed!
Maybe someone can fill me in on this subject.