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Any Tax Attorney's here? Have a situation...

Discussion in 'Non-Vegas Chat' started by Mistaspakles, Jun 30, 2020.

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  1. MGinCO

    MGinCO VIP Whale

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    Start a College Invest for the kids!
    She can prepay all 4 years of a college UPFRONT, directly to the school.
     
  2. nostresshere

    nostresshere Mr. Anti Debit Card

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    Have her wire it to Vegas and put it all on red.
     
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  3. 63hearts

    63hearts Low-Roller

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    Okay, I admit my nievity, but what's the risk of the cash in a shoebox handed over and then into the safe box? Or another way, withdraw the cash, put it in a JOINT safety deposit box, then it hasn't been gifted.
     
  4. Mistaspakles

    Mistaspakles Low-Roller

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    I have a 529 for both my girls since birth...but I don't think you can pay "directly to the school" since you don't know which school they are going to...right?

    I will pass this on and see if she takes this advice. I'm sure as long as it is not a triple zero wheel, she will consider it :whistle:

    LOL...old school Viet folks still do this. My ex from way back when has one of the more popular Vietnamese restaurants in Mpls. Her mother started it in the 90's and it skyrocketed in popularity. I heard she was busted for tax evasion with shoeboxes full of cash in excess of 1mm in her home. For my purposes though, I plan on putting the money to work in the market...so the showbox theory would be a little tough for me ;)
     
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