2006-12-01 14:43:29 · 7 answers · asked by TheNobleOne 1 in Business & Finance ➔ Taxes ➔ United States
That depends on where it's coming from. If it's a gift, you don't owe tax. If it's eligible for putting it into a rollover IRA, then maybe you can at least postpone them. If it's an inheritance, then the estate will have paid the taxes if any were due, and you won't have to.
But if you won it at the racetrack or just worked a ridiculous amount of overtime, then you'll have to pay the taxes.
2006-12-01 18:25:30 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
It depend on were it's coming from. If it transfered in to a trust or retirement account you may get a break
2006-12-01 22:59:53 · answer #2 · answered by MICHELS2 2 · 0⤊ 0⤋
if you get the money pay taxes one time but if you have it in a bank you have to pay taxes on the interest
2006-12-01 22:47:00 · answer #3 · answered by money maker 3 · 0⤊ 1⤋
Offshore account
2006-12-01 22:52:02 · answer #4 · answered by Anonymous · 0⤊ 2⤋
HAVE IT DEPOSITED DIRECTLY INTO YOUR BANK IRA AND THEN YOU WON'T LOSE ANY OF IT FOR TAXES UNTIL YOU START WITH DRAWING IT.
2006-12-01 23:28:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
open a swiss bank account
2006-12-01 22:55:59 · answer #6 · answered by Huy N 2 · 0⤊ 2⤋
put in they bank
2006-12-01 22:51:13 · answer #7 · answered by phillip b 2 · 0⤊ 2⤋