Is anyone here old enough to remember The Millionaire starring the never seen John Beresford Tipton, Jr.? If so, you ARE old but you still have your memory!
Inheritances have always been tax free the recipient. After the estate taxes were are paid the beneficiaries get the inheritance free of further estate taxes. After receiving the inheritance, the beneficiary does have to pay income tax on any income generated by the inheritance. Recently, the Republicans have just about done away with estate taxes by mislabelling them as death taxes.
“My name is Michael Anthony, and I have a check for you from my client for one million dollars.” Baby Boomers might remember “The Millionaire” on TV in the early 1960s.
pschearer Premium Member over 4 years ago
Ten million? I can fantasize much bigger numbers.
Renatus Profuturus Frigeridus Premium Member over 4 years ago
Was uncle Lars a Kenyan prince?
Watcher over 4 years ago
I guess the bearer of the check goes with it. It is after all Mike.
kaffekup over 4 years ago
And I thought it would be Nicole.
Liverlips McCracken Premium Member over 4 years ago
It’s a fantasy, alright.
Prey over 4 years ago
Tax free yes, but Uncle Lars was Norwegian and there is a small amount of import duty……
For a Just and Peaceful World over 4 years ago
Is anyone here old enough to remember The Millionaire starring the never seen John Beresford Tipton, Jr.? If so, you ARE old but you still have your memory!
Bob Blumenfeld over 4 years ago
I love it when Trudeau goes meta.
vaughnrl2003 Premium Member over 4 years ago
Ah yes. The old ‘Game of Life’ fantasy.
fuzzbucket Premium Member over 4 years ago
My rich uncles are named Powerball and Megamillions, but I don’t think I’ll inherit.
TerryBardy over 4 years ago
Dream on Mike!
The Brooklyn Accent over 4 years ago
It’s my fantasy, and I’ll dream what I want to.
Kabana_Bhoy over 4 years ago
He’s your relative trapped in Nigeria by a prince. STOP SCREENING YOUR EMAILS, Mike!
PatrickC.Mackin over 4 years ago
Inheritances have always been tax free the recipient. After the estate taxes were are paid the beneficiaries get the inheritance free of further estate taxes. After receiving the inheritance, the beneficiary does have to pay income tax on any income generated by the inheritance. Recently, the Republicans have just about done away with estate taxes by mislabelling them as death taxes.
WDD over 4 years ago
“My name is Michael Anthony, and I have a check for you from my client for one million dollars.” Baby Boomers might remember “The Millionaire” on TV in the early 1960s.