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Showing content with the highest reputation on 12/20/2015 in all areas
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Me too. Tom Newark, CA2 points
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No I would treat it as a reduction of sales price to the seller.2 points
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The employer probably gives his employee the "tax-free" money and hopes the employee won't report it on his return. If it is a cash business the employer receives money that he does not report and pays the employee from these funds.2 points
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1 point
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For trusts, the capital gains rate is 20% for the 39.6% tax bracket, 15% for the 25, 28, and 33% tax bracket and zero % for the 15% bracket - according to the USMTG 2016 - paper version.1 point
