Comments on: If my cousin pays my credit card bill directly to help me reduce debt, do I have to pay income tax on this? http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/ Eliminate Your Debt From Credit Cards Fri, 18 May 2012 07:20:45 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: ? http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/comment-page-1/#comment-1020 ? Thu, 24 Dec 2009 05:11:58 +0000 http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/#comment-1020 You don't say what country, but in U.S. there are no reporting requirements for a gift from/to any person unless it is over $12,000/year. If more than that, it has to be reported, but no tax is due unless it exceeds a $1 million lifetime exclusion. If there is any tax due, it is due from the gift giver. For other countries, check with whoever collects income tax. You don’t say what country, but in U.S. there are no reporting requirements for a gift from/to any person unless it is over $12,000/year. If more than that, it has to be reported, but no tax is due unless it exceeds a $1 million lifetime exclusion. If there is any tax due, it is due from the gift giver.

For other countries, check with whoever collects income tax.

]]> By: Reaper http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/comment-page-1/#comment-1019 Reaper Wed, 23 Dec 2009 05:53:00 +0000 http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/#comment-1019 What? Of course not! Even if he's giving you the money directly as an income! How would they find out? They won't! What? Of course not!
Even if he’s giving you the money directly as an income!
How would they find out? They won’t!

]]> By: Grrrr... http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/comment-page-1/#comment-1018 Grrrr... Tue, 22 Dec 2009 00:49:24 +0000 http://www.reducecreditcardbills.com/credit-cards/if-my-cousin-pays-my-credit-card-bill-directly-to-help-me-reduce-debt-do-i-have-to-pay-income-tax-on-this-2/#comment-1018 why would you pay income tax on a paid bill? he's not paying you, so it's not income. why would you pay income tax on a paid bill? he’s not paying you, so it’s not income.

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