I live with a friend as a caregiver. He does not want me to have to claim the money he gives me at the end of the year. How does he do this?
Asked on 10/06/10, 11:56 pm
2 Answers from Attorneys
Marc J. Soss
Marc J. Soss, Esquire
An individual may gift you the annual sum of $13,000. Amounts in excess will be taxable gifts to the giftor. If the funds are paid to you for services rendered thney will not qualify as a gift and will be taxable to you.
Answered on 10/12/10, 6:30 pm
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
If he is paying you to be a caregiver, then you must declare this as income. The failure to do so is a violation of law.
Answered on 10/13/10, 6:29 pm
