Popular Post jsharr ★ Posted March 25, 2022 Popular Post Share #1 Posted March 25, 2022 Turns out the driver was a 16 year old kid driving home from a job interview at a Whataburger. Made all the local news and some national news. And now, he is getting a new truck! https://www.yahoo.com/news/tornado-boy-caught-texas-twister-100000783.html 4 1 Link to comment Share on other sites More sharing options...
Popular Post Kirby Posted March 25, 2022 Popular Post Share #2 Posted March 25, 2022 But even more importantly, he got the job! 4 1 Link to comment Share on other sites More sharing options...
Kzoo Posted March 25, 2022 Share #3 Posted March 25, 2022 He isn't going to be able to afford the income tax he has to pay for that new truck on a part-time Whataburger job. Link to comment Share on other sites More sharing options...
jsharr ★ Posted March 25, 2022 Author Share #4 Posted March 25, 2022 36 minutes ago, Kzoo said: He isn't going to be able to afford the income tax he has to pay for that new truck on a part-time Whataburger job. Texas does not work like that. A free gift is not taxable income. If received in exchange for services, then it could be taxable. 1 1 Link to comment Share on other sites More sharing options...
Kzoo Posted March 25, 2022 Share #5 Posted March 25, 2022 5 minutes ago, jsharr said: Texas does not work like that. A free gift is not taxable income. If received in exchange for services, then it could be taxable. The IRS does. 1 Link to comment Share on other sites More sharing options...
jsharr ★ Posted March 25, 2022 Author Share #6 Posted March 25, 2022 7 minutes ago, Kzoo said: The IRS does. https://finance.zacks.com/giving-car-gift-affect-taxes-2041.html Link to comment Share on other sites More sharing options...
Kzoo Posted March 25, 2022 Share #7 Posted March 25, 2022 2 minutes ago, jsharr said: https://finance.zacks.com/giving-car-gift-affect-taxes-2041.html Good to know. So the dealership is on the hook for the IRS's portion. 1 Link to comment Share on other sites More sharing options...
Randomguy Posted March 25, 2022 Share #8 Posted March 25, 2022 1 hour ago, Kzoo said: He isn't going to be able to afford the income tax he has to pay for that new truck on a part-time Whataburger job. Or the insurance. Or gas. Link to comment Share on other sites More sharing options...
Randomguy Posted March 25, 2022 Share #9 Posted March 25, 2022 1 hour ago, jsharr said: Texas does not work like that. A free gift is not taxable income. If received in exchange for services, then it could be taxable. Ok, I think I am ready to revisit that one-star rating that TX has, and give it an additional half-star just for that kind of coolness. 2 1 Link to comment Share on other sites More sharing options...
MoseySusan Posted March 25, 2022 Share #10 Posted March 25, 2022 Yay! Good for him. Link to comment Share on other sites More sharing options...
Wilbur ★ Posted March 26, 2022 Share #11 Posted March 26, 2022 Good for the dealership. Awesome! Link to comment Share on other sites More sharing options...
Solution Thaddeus Kosciuszko Posted March 26, 2022 Solution Share #12 Posted March 26, 2022 With his experience, I bet Whataburger puts him in charge of making the milkshakes. 1 1 Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted March 26, 2022 Share #13 Posted March 26, 2022 12 hours ago, jsharr said: Texas does not work like that. A free gift is not taxable income. If received in exchange for services, then it could be taxable. So... prostitution. I always new something smelled down in Texas and it wasn't crude. See what I did there? Link to comment Share on other sites More sharing options...
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