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Thread: $15K from grandfathers Estate.

  1. #1
    Senior Member Paradox's Avatar

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    $15K from grandfathers Estate.

    Just received $15K. I live in GA. Any input on how to pay the least amount of taxes would be appreciated. Thanks...

  2. #2
    Roadhouse Groupee

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    http://www.bankrate.com/brm/itax/Edi...g/basic_3a.asp

    You probably won't owe any taxes on it . . . if you follow the link to the individual states it looks like GA repealed inheritance tax in 2005

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    15k, would that get me an mp5sd?

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    Team GunsNet Silver 03/2014 sevlex's Avatar

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    Usually the recipient doesn't pay tax. It is taxed at the source - the estate.

    If you have a mortgage I'd recommend applying it there. Or buy gold.
    Telling the truth is treason in an empire of lies.

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    Senior Member Helen Keller's Avatar

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    Quote Originally Posted by sevlex View Post
    If you have a mortgage I'd recommend applying it there. :

    or any debt for that matter.
    PRAISE KEK
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    SHADILAY, SHADILAY!

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    Administrator Krupski's Avatar

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    Quote Originally Posted by Paradox View Post
    Just received $15K. I live in GA. Any input on how to pay the least amount of taxes would be appreciated. Thanks...
    I think an inheritance has to be over $1M to be taxed. A few years ago we got something like $35K from an estate and didn't have to pay a penny of tax.
    Gentlemen may prefer Blondes, but Real Men prefer Redheads!

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    Administrator Krupski's Avatar

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    Quote Originally Posted by sevlex View Post
    Usually the recipient doesn't pay tax. It is taxed at the source - the estate.

    If you have a mortgage I'd recommend applying it there. Or buy gold.
    YES absolutely. See whatever loans (credit cards, mortgage, etc...) have the highest interest rate and pay those down or off.

    If you have no debt... buy gold.
    Gentlemen may prefer Blondes, but Real Men prefer Redheads!

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    My mother walked away from me at about 10 years old. So did her parents, until I was about 18. My step grandmother became my grandmother at 10, both legally and emotionally. The women scrimped and saved, did everything she could to do without and always talked about wanting to leave us grandkids everything she could. When she died, she had 200+ acres of oil and natural gas producing land + another 100-150 acreage of land with a 60 thousand dollor house on it. HER intentions were to have the house and part of the land split between the 5 grandkids.....My step mother and father, long story short, screwed 3 of us grandkids out of it. Kind of a bitter pill to swallow. She wanted us to use it for houses, college loans ONLY. NOT cc's, or frivilous debts. So, its being dumped into my worthless step sister who is a welfare mommy married to a crack dealer in Houston tx and my half brother who will likely not end up ANYTHING. The only 2 grandkits who'd have HONORED her sacrificed are my sister and I here in wichita ks, who are both college educated, home owning, upright people.

    Ironically, also the only two grandkids who treated her like gold, because she was.

    Ha, thats MY inheritance story.

    *edit to add, I'd have used it on college loans and my house, like she intended. Like I hope you do with yours. Honor the sacrifice that led to you now having 15 grand.
    Last edited by Ruskiegunlover; 06-18-2012 at 03:51 PM.
    "What sick, barbaric bastards.

    It's one thing to use terrorism to make a political statement, but the wanton mutilation and suffering of innocents? How does that forward your political goals? When done in the name of religion, how does that earn you brownie points with God?

    Fuck religious extremism. And especially fuck the "religion of peace." "

    So, lagcsocialist supports terrorism AS LONG AS ITS FOR POLITICAL ENDS....

  9. #9
    Senior Member Helen Keller's Avatar

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    Ha, thats MY inheritance story.

    If I had a get out of jail free card I know a certain uncle that would get his fuckin fronts knocked out
    PRAISE KEK
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    IN THY WEBBED HANDS WE PLACE OUR FAITH
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  10. #10
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    Well, my step mother has apologized to me for how f-ed up she was to me as a kid. But she continues to screw me for her 'poor' unappriciated daughter from her first husband. My father is just not strong enough to stand up for me.....never has been. I still love him, and in fact am driving 10 hours in 2 weeks to see him. I figure I am flawed, and people still love me, so I need to love him for his flaws. Still, REALLY pisses me off. I love my dad, but if he ever needs money to pay for ANYTHING when he is older I am telling him to go ask my piece of shit step sister and her crack dealer, pit bull breeding shit of a husband.
    "What sick, barbaric bastards.

    It's one thing to use terrorism to make a political statement, but the wanton mutilation and suffering of innocents? How does that forward your political goals? When done in the name of religion, how does that earn you brownie points with God?

    Fuck religious extremism. And especially fuck the "religion of peace." "

    So, lagcsocialist supports terrorism AS LONG AS ITS FOR POLITICAL ENDS....

  11. #11
    Senior Member Paradox's Avatar

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    Thanks for the input....

  12. #12
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    Quote Originally Posted by Ruskiegunlover View Post
    My mother walked away from me at about 10 years old. So did her parents, until I was about 18. My step grandmother became my grandmother at 10, both legally and emotionally. The women scrimped and saved, did everything she could to do without and always talked about wanting to leave us grandkids everything she could. When she died, she had 200+ acres of oil and natural gas producing land + another 100-150 acreage of land with a 60 thousand dollor house on it. HER intentions were to have the house and part of the land split between the 5 grandkids.....My step mother and father, long story short, screwed 3 of us grandkids out of it. Kind of a bitter pill to swallow. She wanted us to use it for houses, college loans ONLY. NOT cc's, or frivilous debts. So, its being dumped into my worthless step sister who is a welfare mommy married to a crack dealer in Houston tx and my half brother who will likely not end up ANYTHING. The only 2 grandkits who'd have HONORED her sacrificed are my sister and I here in wichita ks, who are both college educated, home owning, upright people.

    Ironically, also the only two grandkids who treated her like gold, because she was.

    Ha, thats MY inheritance story.

    *edit to add, I'd have used it on college loans and my house, like she intended. Like I hope you do with yours. Honor the sacrifice that led to you now having 15 grand.
    This is the kind of thing I tell racists I meet; no one will treat you worse than your own flesh and blood and they throw away all the hard earned property your ancestors fought for without any consideration other than for the moment.

  13. #13
    Contributor 05/2012

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    Inheritance not taxable, assuming it's not an annuity that you were the beneficiary of or something. Then, only the
    earnings would be, not the principal.

  14. #14
    Quote Originally Posted by 5.56NATO View Post
    This is the kind of thing I tell racists I meet; no one will treat you worse than your own flesh and blood and they throw away all the hard earned property your ancestors fought for without any consideration other than for the moment.
    Amen

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