TAX QUESTION: I AM LOOKING TO RECEIVE MONEY FROM MY PARENTS AND IN-LAWS TO START A BUSINESS.?

I am seeking to embrace we estimate 25k in between my relatives as well as in-laws as supports to begin my business. Will I have to compensate taxes upon which money? If so, what is the many appropriate approach to minimize the taxes so which I can have the many use of the income I have been given?

{ 2 comments… read them below or add one }

Mitch Rapp January 16, 2012 at 4:16 pm

Here’s a good article.

Judy January 16, 2012 at 4:51 pm

You don’t pay tax on it. They can’t deduct it either.

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