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Financial Planning / Tax Strategies


Subject:  Re: Money Award Date:  6/10/2001  4:19 AM
Author:  acm4tax Number:  51681 of 127753

Don't know if this would fly, but gift $10,000 to your wife.

Sorry Gifts to your spouse or anyone else for that matter do not reduce your taxable income.

Gifts reduce your assets that may reduce your estate tax. In other words, gifts may only help if you are dead. I don't think this was an alternative the recipient of the award was considering.

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