Do you get taxed if lots of people give you a little amount of money - equaling a lot of money.?
547947
A good question.  Get IRS Publication 17.  An individual can give you up to $11,000.00 in a year and there is no tax implication on that amount.  The amount you can receive in a lifetime keeps changing; it used to be 300,000 but has changed.  It is now set at $345,800.00 for the year against a lifetime credit of one million dollars.
237377
The very wealthy should feel it a privilege of being wealthy to pay more in taxes, no matter how hard that you work for it. I worked a lot harder as a truck driver then Bill Gates (only using him as an example, because he does give back to the community, he is a good man) ever did. physical hard labor, Drive 10 hours to get to a place so that I could unload the truck for another 4 hours. I was glad to pay taxes because it meant two things, 1) I was making money. 2) I was contributing to the good of all by paying my taxes.  My question would be after how many millions does a person not need any more. I can live out the rest of my life retired on about $100.000 or less. I feel no need for greed. Why do you?
277802
Probably.  There is a heirarchy when they come to atach your wages, and taxes are very high on the list.
526575
you can give money to anyone, tax free, up to the max allowed.  the person receiving the money does not have to be related to you in any way, they could be your best friend or a total stranger.
945726
Yeah unless the money Is delt under the table. Youll have to pay a tax on it, the ammount really depends on how much youll be reiciving
47217
Giving money to charities doesn't help someone retain more of their money.  While it lowers their taxable income, they will always net less after giving money than they would had they kept the money and paid the taxes.  However, even though giving to charities doesn't net the giver more money than not giving, many folks still give -- but when they give they want it to be a tax-deductible gift.  Just handing someone money isn't tax-deductible.\n\nThere are a number of organizations that do help people financially, but not through giving away money.  They help by teaching people how to handle their personal finances in a constructive way to build wealth over the long term.  I'd suggest:\n\nhttp://www.daveramsey.com\n\nGood luck
451827
If you make a small gift, then they don't pay tax on it. (Up to nine or ten thousand...)
1078492
My husband and I are one of "those folks".\n\nPersonally I favor a flat tax.  To me it is the fairest way to to tax individuals on their earned income.  If everyone where to pay say 20% (with no loop holes), then we would all be paying the same.  The only exception might be for the lowest of incomes, say those who make $20,000 or less.\n\nI do not believe it is fair to penalize someone for making money.  I have a good income because I have worked my butt off to get there.\n\nEnough said.
317967
It would be taxed based on your tax bracket. This depends upon your income level.
472314
They are taxed as well.
490966
I think that aswell as the above comments, it also depends on taxes. Take here for example (UK) our government taxes us on everything!
595656
only if 500 people give you a dollar...
453258
try to deffer the payments as much as possible so that if this ends up being you only source of income then you will end up paying less taxes i don't think that it will be tax free. unless it is a roth IRA where you paid taxes upfront to later have tax free money when you get the money.
55006
Basically your standard deduction is doubled and your tax will be at a lower rate. If there are kids, you have more deductions depending on your income and their ages.
1175469
what's the money being deducted for
1105882
The most diffilcult part when handing out money is weather the person that you are giving it to is going to put it to good use. Everyone in life should make it for themselves. The wealthy did. Most of them did not take handouts and they achieved their wealth by hard work. My hand out to people is that I give them jobs. If they plan to make good use of the money and invest in their future instead of blowing it all, then they too will have wealth in the near future. Although we have money to spare, it is not our job in life to work for others who can't see that they can't make it themselves.
215507
no article but...\n\nThe lottery is considered a "voluntary tax", where the net procedes go into government coffers. \n\nA possible advantage to this would be to beset any tax raises.