Conclusion: human evolution has always depended in part upon some unassuming father’s ability to literally backflip his child out of the jaws of death.
1 penny below reporting limit for the IRS… I see what you did there
(Don’t give me $599.99)
That’s not the right IRS rule.
$599.99 is the amount below which a business does not need to issue a 1099 to a contractor who provides business services. The contractor still needs to report the income on their taxes.
The correct number for the IRS rule for money that is gifted rather than received in a business transaction is $13999.99–more than that, and the recipient has to pay tax on the gift and report it to the IRS. Less than that, and there’s no taxation or reporting requirement.
If we’re choosing amounts on the basis of IRS limits, give these people $13,999.99.
Go. Do it.
Reblog if it’s ok for people to give you $13,999.99
pornhub: the government is doing a bad job of sex education. we’ll do it properly.
public: applause
pornhub: the government is doing a bad job of snow plowing. we’ll do it properly.
public: confused applause
