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Re: My father left me an inheritance!! UPDATED [Nova] [ In reply to ]
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Nova wrote:
DavHamm wrote:
Nova wrote:
Andrewmc wrote:
Thumbs up emoji

Very y fortunate. Feels good tinged with sadness, but he has allowed you significant financial freedom.

I'd be drinking to that...


Imagine my surprise when I called the bank to tell them I wouldn't be claiming the 128 bucks and they asked me about the rest!

I'm such a greedy bastage...


So you were going to turn $128.03 down cause you didn't want to take anything from him? (not sure why you were going to turn down free money).

But since its more your taking it...

Well thats some interesting shit right there.

Congrats / sorry for the windfall I hope you had a very large mortgage, that got paid off.


I wasn't going to claim it because I was afraid of what it would do to my taxes. I'm not sure if claiming a hundred bucks is worth what it would cost me to have to go to a professional to have my taxes done because of a tiny inheritance.

And hell yeah I'm claiming this money. It's held up in some longer term shit, but I'll eventually get it.,

In the U.S., this would be a non-factor.
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Re: My father left me an inheritance!! UPDATED [Harbinger] [ In reply to ]
Quote | Reply
Harbinger wrote:
Nova wrote:
DavHamm wrote:
Nova wrote:
Andrewmc wrote:
Thumbs up emoji

Very y fortunate. Feels good tinged with sadness, but he has allowed you significant financial freedom.

I'd be drinking to that...


Imagine my surprise when I called the bank to tell them I wouldn't be claiming the 128 bucks and they asked me about the rest!

I'm such a greedy bastage...


So you were going to turn $128.03 down cause you didn't want to take anything from him? (not sure why you were going to turn down free money).

But since its more your taking it...

Well thats some interesting shit right there.

Congrats / sorry for the windfall I hope you had a very large mortgage, that got paid off.


I wasn't going to claim it because I was afraid of what it would do to my taxes. I'm not sure if claiming a hundred bucks is worth what it would cost me to have to go to a professional to have my taxes done because of a tiny inheritance.

And hell yeah I'm claiming this money. It's held up in some longer term shit, but I'll eventually get it.,


In the U.S., this would be a non-factor.

Are you saying $128.03 is less than the $5.6 Million your allowed tax free? Are you sure?

Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.
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Re: My father left me an inheritance!! UPDATED [DavHamm] [ In reply to ]
Quote | Reply
DavHamm wrote:
Harbinger wrote:
Nova wrote:
DavHamm wrote:
Nova wrote:
Andrewmc wrote:
Thumbs up emoji

Very y fortunate. Feels good tinged with sadness, but he has allowed you significant financial freedom.

I'd be drinking to that...


Imagine my surprise when I called the bank to tell them I wouldn't be claiming the 128 bucks and they asked me about the rest!

I'm such a greedy bastage...


So you were going to turn $128.03 down cause you didn't want to take anything from him? (not sure why you were going to turn down free money).

But since its more your taking it...

Well thats some interesting shit right there.

Congrats / sorry for the windfall I hope you had a very large mortgage, that got paid off.


I wasn't going to claim it because I was afraid of what it would do to my taxes. I'm not sure if claiming a hundred bucks is worth what it would cost me to have to go to a professional to have my taxes done because of a tiny inheritance.

And hell yeah I'm claiming this money. It's held up in some longer term shit, but I'll eventually get it.,


In the U.S., this would be a non-factor.


Are you saying $128.03 is less than the $5.6 Million your allowed tax free? Are you sure?

Never knew the law and didn't wanna take a chance.

Thankfully I got well less than the 5.6M then huh?

"When the power of love overcomes the love of power the world will know peace." Jimi Hendrix
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Re: My father left me an inheritance!! [oldandslow] [ In reply to ]
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oldandslow wrote:
I'e said it before, my wife was raised on a family farm. It is passed on, and each generation tries to build on what came before. The idea that one would run the farm into the ground, rather than pass it on to later generations makes absolutely zero sense.

The same logic applies, whether you have a family farm or business, or merely a portfolio. Even though I do not have a distinct family-owned business, I view my stewardship exactly the same way (frankly, I don't see any logic in treating them so vastly differently). My main goal is to raise my children right, and all of the other things that you list. I see no reason to do absolutely everything EXCEPT be a good steward of my finances. I will do that, and teach them to do the same for their kids and grandkids.

OMG. I agree with oldandslow.

I'm raising my kids the best I can. Right now I try to make sure they know that nothing is theirs and everything is their mother's and mine. They learn to do without less often than I'd like, but much more often than they'd like. I'm trying to make them responsible, accountable, and knowledgeable. In the end they're going to get a sizable chunk of change, and they're going to know how to use it to make their lives better, their family's lives better, and anything else better that they will to be so.
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Re: My father left me an inheritance!! UPDATED [DavHamm] [ In reply to ]
Quote | Reply
DavHamm wrote:
Harbinger wrote:
Nova wrote:
DavHamm wrote:
Nova wrote:
Andrewmc wrote:
Thumbs up emoji

Very y fortunate. Feels good tinged with sadness, but he has allowed you significant financial freedom.

I'd be drinking to that...


Imagine my surprise when I called the bank to tell them I wouldn't be claiming the 128 bucks and they asked me about the rest!

I'm such a greedy bastage...


So you were going to turn $128.03 down cause you didn't want to take anything from him? (not sure why you were going to turn down free money).

But since its more your taking it...

Well thats some interesting shit right there.

Congrats / sorry for the windfall I hope you had a very large mortgage, that got paid off.


I wasn't going to claim it because I was afraid of what it would do to my taxes. I'm not sure if claiming a hundred bucks is worth what it would cost me to have to go to a professional to have my taxes done because of a tiny inheritance.

And hell yeah I'm claiming this money. It's held up in some longer term shit, but I'll eventually get it.,


In the U.S., this would be a non-factor.


Are you saying $128.03 is less than the $5.6 Million your allowed tax free? Are you sure?

Actually, it is now over $11 mill. But it is a federal estate tax. There is no federal inheritance tax.
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Re: My father left me an inheritance!! UPDATED [Nova] [ In reply to ]
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Nice! A good surprise.

I received a letter last week about my Dad's life insurance, which I knew nothing about, so my bro and I will be getting a check. Not enough to pay off my house, but I'll be able to pay off some other debts. His retirement accounts are still in limbo, so an unknown amount coming in the future.

clm
Nashville, TN
https://twitter.com/ironclm | http://ironclm.typepad.com
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Re: My father left me an inheritance!! UPDATED [Nova] [ In reply to ]
Quote | Reply
Nova wrote:
DavHamm wrote:
Harbinger wrote:
Nova wrote:
DavHamm wrote:
Nova wrote:
Andrewmc wrote:
Thumbs up emoji

Very y fortunate. Feels good tinged with sadness, but he has allowed you significant financial freedom.

I'd be drinking to that...


Imagine my surprise when I called the bank to tell them I wouldn't be claiming the 128 bucks and they asked me about the rest!

I'm such a greedy bastage...


So you were going to turn $128.03 down cause you didn't want to take anything from him? (not sure why you were going to turn down free money).

But since its more your taking it...

Well thats some interesting shit right there.

Congrats / sorry for the windfall I hope you had a very large mortgage, that got paid off.


I wasn't going to claim it because I was afraid of what it would do to my taxes. I'm not sure if claiming a hundred bucks is worth what it would cost me to have to go to a professional to have my taxes done because of a tiny inheritance.

And hell yeah I'm claiming this money. It's held up in some longer term shit, but I'll eventually get it.,


In the U.S., this would be a non-factor.


Are you saying $128.03 is less than the $5.6 Million your allowed tax free? Are you sure?


Never knew the law and didn't wanna take a chance.

Thankfully I got well less than the 5.6M then huh?

Yeah wouldn't it suck if you had to pay like $3 million in taxes cause you inherited $10 million.. I would turn it down.

Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.
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Re: My father left me an inheritance!! [SH] [ In reply to ]
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SH wrote:
oldandslow wrote:
I'e said it before, my wife was raised on a family farm. It is passed on, and each generation tries to build on what came before. The idea that one would run the farm into the ground, rather than pass it on to later generations makes absolutely zero sense.

The same logic applies, whether you have a family farm or business, or merely a portfolio. Even though I do not have a distinct family-owned business, I view my stewardship exactly the same way (frankly, I don't see any logic in treating them so vastly differently). My main goal is to raise my children right, and all of the other things that you list. I see no reason to do absolutely everything EXCEPT be a good steward of my finances. I will do that, and teach them to do the same for their kids and grandkids.


OMG. I agree with oldandslow.

I'm raising my kids the best I can. Right now I try to make sure they know that nothing is theirs and everything is their mother's and mine. They learn to do without less often than I'd like, but much more often than they'd like. I'm trying to make them responsible, accountable, and knowledgeable. In the end they're going to get a sizable chunk of change, and they're going to know how to use it to make their lives better, their family's lives better, and anything else better that they will to be so.

Congrats on making enough to do that.

Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.
Quote Reply

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