Author Topic: Any CPAs here?  (Read 48 times)

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BlackLight

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Any CPAs here?
« on: August 06, 2017, 10:35:04 PM »
I have a tax question - let's say in light of federal tax law, unless somebody is similarly versed in California state tax law, and can speak to that.

If a C-Corp gives a money gift to an individual, is that considered taxable income, or taxable after a certain amount, or tax free? I've heard it said that, if the money is gifted by the Board of Directors of a C-Corp, then it's a tax free gift.

SupTool

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Re: Any CPAs here?
« Reply #1 on: August 07, 2017, 08:32:10 PM »
Not a CPA but IIRC it has to be over a certain amount like $14,000 and if they pay the tax you don't have to or something like that.