How to avoid getting taxed on wedding gifts

[petthezoo]

My wedding is coming up later this year and we will be having a cash only registry. We anticipate 150 guests and will have a box at the entrance for cash/checks...

[petthezoo]

I bought a new car less than 2 years ago with about 20k mileage currently. I brought it to the dealership the other day for routine maintenance and they...

[petthezoo]

My relatives from China want to gift me approximately $30,000 for my upcoming wedding expenses. They want to wire transfer the money directly into my...

[petthezoo]

I already know I’m going to get some backlash for this but here goes:

I’m in my final year of residency and looking to propose in the...

[petthezoo]

I don’t think it’s necessarily fraud. The tips are not tracked. 100% of the time she just gets chips and hard cash. Every day is different. Some...

[petthezoo]

So my mom works at a casino and earns most of her income through cash tips. She has a very low base salary but her tips are easily 2-3x her base salary....

[petthezoo]

Sorry, so it will be with Merrill Edge, which is located inside a Bank of America. My mom doesn’t want to deposit $6000 into the bank because she doesn’t...

[petthezoo]

My mom is starting to learn finances and wants to start a Roth IRA. She does not have sufficient funds in checking or savings account but has $6000 in...

[petthezoo]

OP here

Thank you everyone for your advice and suggestions. I posed this question while I was working overnight yesterday. I had just woken...

[petthezoo]

I am a third year internal medicine resident currently interviewing for hematology-oncology fellowship positions. I have run into a nagging personal...

[petthezoo]

I know a lot of the surgical subspecialities have taken significant financial losses due to very few elective procedures being performed. In general,...

[petthezoo]

I would hope to get $100,000 per year from retirement. My significant other is not in medicine and makes around $90k/year. We plan to have 2 kids....

[petthezoo]

I am a PGY3 (in < 1 week) in internal medicine and I will be applying for hospitalist positions this fall. I am planning on working for a community...

[petthezoo]

We were also thinking it’s most likely not worth the time and effort to litigate. Besides, the court almost always sided with tenants. We are charging...

[petthezoo]

A family who signed last year around this time signed for a 2-year lease until 7/2021. In the contract, it indicated that the only way out of the 2-year...

[petthezoo]

We currently live in same city. If all works out in terms of matching and her getting into DNP school, we will remain in the same current city....

[petthezoo]

I did not mean in general. Was only trying to say that her financial literacy is very poor, which she would be the first to admit. But I can see how...

[petthezoo]

Yes, I now realize how my sentence could be perceived in a bad way. What I really meant was that she's not financially literate and she has told me that...

[petthezoo]

Yes, what I really meant to say was not financially literate. But reading my post again, I can see how what I typed sounded disparaging from a grammatical...

[petthezoo]

Hi all, I am a PGY2 internal medicine resident. I am planning to propose to my girlfriend either at the end of this year or early next year. I have many...

[petthezoo]

Thanks for the response. How long do I have to wait after I sell a stock to buy another stock? Can I sell VV and buy another ETF 1 minute later and...

[petthezoo]

I sold about $60k worth of VOO 3 weeks ago for $50k cash to TLH $10k. I used the $50k to buy VV. Now, my VV is worth about $40k. I am wondering if...

[petthezoo]

Hey guys, I already made the $6,000 contribution to my Roth IRA for year 2020. However, last week I transferred my Roth IRA from TD Ameritrade to Merrill...

[petthezoo]

I also have some Facebook and Microsoft individual stocks. Could I do tax loss harvesting by selling these stocks and then purchasing VV (vanguard large...

[petthezoo]

Just to be clear, I can sell all my VOO that I bought in the past 30 days tomorrow and then buy VV 1 minute later and this should count as tax loss h...

[petthezoo]

Thanks for the heads up! How would I be able to claim this TXL? I'm assuming my brokerage will give me some kind of form when I file taxes for 2020?...

[petthezoo]

I have 20 shares of VOO that I bought 2 weeks ago in my taxable account. I do not have any other VOO in my taxable. Can I sell these 20 shares tomorrow,...

[petthezoo]

I agree with the BoA premium card. However, I am a stickler for no annual fee cards. But if I were to go out of my way for a fee card, it would definitely...

[petthezoo]

Government payments are not included in any category nor are bill payments to Verizon/utility companies/etc.

the categories are as follows:...

[petthezoo]

I wanted to share something that I’ve recently started to implement for credit card rewards. BY FAR, the best credit cards are the Bank of America...

[petthezoo]

I currently have all 100% of my money in Roth IRA, employer 403b, HSA and taxable account in the SP500 index funds (VOO, SPY). I plan to keep the money...

[petthezoo]

I have about $20,000 sitting in my checking account currently. Deciding if I should keep this for rent/personal expenses or invest some of it. Here's...

[petthezoo]

I have the following:
-BoA cash rewards
-BoA MLB card
-Chase Freedom
-Chase Freedom Unlimited
-Wells Fargo cashwise...

[petthezoo]

My parents are going to terminate their relationship with Geico soon due to Geico raising premiums every year. They currently pay $2,500/6 months for...

[petthezoo]

Year/Training/Age/Net worth
2014-MS1-21-(neg 40,000)
2015-MS2-22-(neg 80,000)
2016-MS3-23-(neg 120,000)
2017-MS4-24-(neg 160,000)...

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I am planning to refinance student loans when I complete residency and not pursuing PSLF. I am in REPAYE currently and have been making the monthly 10%...

[petthezoo]

Current PGY2 here in Internal med. I am thinking about living at my parents’ home for my PGY3 year. My parents have a very big house and lots of empty...

[petthezoo]

I've been struggling with this question recently. I am a PGY 2 in internal medicine now about halfway through residency, initially very determined to...

[petthezoo]

I am a resident at a program where we spend a lot of time at the local VA. My co-resident told me the other day that he was able to use his VA badge...

[petthezoo]

Hello, first time poster here. I am wondering if my situation makes sense for me to continue to pursue PSLF.

I am currently a PGY2 in Internal...