MB update

[McGurk]

@CurrentlyHorseless

It’s very difficult for a man who arrives at the physical location the others with a loaded gun to argue self defense.

Kyle Rittenhouse is acquitted of all charges in the trial over killing 2 in...

[Knights_Mom]

@BigMama1

@CurrentlyHorseless

very difficult for a man who arrives at the physical location the others with a loaded gun to argue self defense

You keep saying this but that still doesn’t make it true. Carrying a firearm proactively in case it’s needed for self defence is apparently one of America’s most cherished rights.

In fact the US Supreme Court has done all but mandate it LOL

[DownYonder]

@iberianfan

Apropos of nothing, but gifts are not taxable income to the recipient. So, no matter who pays attorney fees, unless a service was promised in exchange, it’s a gift. Most likely, if someone else paid fees on MB’s behalf, it’s a gift.
Or a loan, the proceeds of which are also not taxable income unless and until it is forgiven.

When we settled my father’s estate, we were told that cash gifts under $15,000 do not need to be reported to IRS. But if it’s over $15,000, it has to be reported and is taxed.

In the cases currently being discussed, I imagine even the retaining fees/service charges of the various attorneys are WELL over $15,000.

[LilRanger]

@Virginia_Horse_Mom

If it’s JK paying the attorney, then it seems like he might be able to decide if/when it’s time to pursue a settlement.

No, he’s just the purse (if that’s happening) and if he’s not a client, he can’t direct the attorneys. He can stop paying, if that’s what he’s doing and he isn’t happy with the direction, but only the client gets to decide about how to go on.

[ekat]

@DownYonder

When we settled my father’s estate, we were told that cash gifts under $15,000 do not need to be reported to IRS. But if it’s over $15,000, it has to be reported and is taxed.

In the cases currently being discussed, I imagine even the retaining fees/service charges of the various attorneys are WELL over $15,000.

It went to $16,000 this year, and there’s a lifetime exception rule as well that is too complicated for my brain but probably the bigger brains can explain.

[DownYonder]

@MHM

So you’re saying LK had no idea what she was talking about on a legal matter? Or she was lying on social media?

No. Way.

And I am again all astonishment at the very idea.

[Knights_Mom]

@DownYonder

@iberianfan

Apropos of nothing, but gifts are not taxable income to the recipient. So, no matter who pays attorney fees, unless a service was promised in exchange, it’s a gift. Most likely, if someone else paid fees on MB’s behalf, it’s a gift.
Or a loan, the proceeds of which are also not taxable income unless and until it is forgiven.

When we settled my father’s estate, we were told that cash gifts under $15,000 do not need to be reported to IRS. But if it’s over $15,000, it has to be reported and is taxed.

In the cases currently being discussed, I imagine even the retaining fees/service charges of the various attorneys are WELL over $15,000.

I heard that if the giver pays the attorney directly and it doesn’t touch the hands of the person who the legal fees are for its not considered a gift but I could be wrong.

I know a 3rd party paying medical expenses directly to provider or insurance is exempt from taxation.

[DownYonder]

@BigMama1

Wasn’t that exactly the successful defense used by the kid who brought an AR-15 to a protest?

If you are referring to Kyle Rittenhouse, he brought it for self-defense because he was going into a riot zone to help protect a family business from being burned down by the rioting mob. Said mob attacked some bystanders and business owners as it moved through the area, and Rittenhouse went out to escort some of them to safety and try to tend to injuries (he had a medical kit with him). And then he got caught trying to make his way back to safety and was attacked by several people - which is why he shot them.

So yes, it was a case of self-defense, and the jury agreed despite the State’s and mainstream media’s attempt to portray him as a murderer.

[CurrentlyHorseless]

@ekat

@DownYonder

When we settled my father’s estate, we were told that cash gifts under $15,000 do not need to be reported to IRS. But if it’s over $15,000, it has to be reported and is taxed.

In the cases currently being discussed, I imagine even the retaining fees/service charges of the various attorneys are WELL over $15,000.

It went to $16,000 this year, and there’s a lifetime exception rule as well that is too complicated for my brain but probably the bigger brains can explain.

Gifts of under $16,000 per year do not need to be reported to the IRS. If a person, say a parent, gives more than $16,000 in a given year, it must be reported to the IRS, and the excess would count as part of the giver’s estate when the estate is eventually settled. Estate taxes kick in only after a big exempt amount, so the estate of the parent would only owe taxes on the gift (over $16,000) if the total estate exceeds the exemption amount. But even if estate taxes were owed, the taxes are levied on the estate, not the recipient.

[Angela_Freda]

Bazinga

[Warmblood1]

Who cares? Let MB handle how he deals with contributions and donations. It’s no one’s business other than his and the contributor.

[Warmblood1]

Speaking of contributions, if anyone is in contact with Lara, maybe mention MB auctioning some of his drawings. It seems like people would be happy to have them.

[Angela_Freda]

@DownYonder

If you are referring to Kyle Rittenhouse, he brought it for self-defense because he was going into a riot zone to help protect a family business from being burned down by the rioting mob.

So, same thing.

[DownYonder]

@RHdobes563

Somewhere upthread, I think it was stated that part of what MB is seeking is a complete stop by LK of mentioning him on social media.

If MB wins, and LK violates that and continues the online harassment, what would be the legal consequences to LK?

And I for one would be very surprised if she abided by such an order. I think (as she has proven time and again) she would find other ways to discuss him, without calling him out by name. The King on a chessboard is one specific example she has used in the past.

[Knights_Mom]

@DownYonder

@RHdobes563

Somewhere upthread, I think it was stated that part of what MB is seeking is a complete stop by LK of mentioning him on social media.

If MB wins, and LK violates that and continues the online harassment, what would be the legal consequences to LK?

And I for one would be very surprised if she abided by such an order. I think (as she has proven time and again) she would find other ways to discuss him, without calling him out by name. The King on a chessboard is one specific example she has used in the past.

That’s fine as long as he isn’t identified. Now if she posts under her name and talks about the trainer who shot her without specifically naming him that too may be prohibited as he is still identifiable.

[iberianfan]

So, as has been mentioned, the current annual exclusion amount, per donee, is $16,000. Gifts over that amount have to be reported on form 709, gift tax return. That said, there is no tax due until the donor exceeds the current estate tax exemption which is somewhere around $11mm. The donor files that return.

There are exclusions where medical or educational expenses are paid directly to the provider, then they do not trigger a reporting requirement. However, no such exception exists for attorney fees.

I am responding only to point out that comments made about the IRS needing to know who funded MB’s defense probably would not impact MB’s tax liability. And, while they may trigger a reporting requirement by the donor, it’s highly likely there is no tax due.

[BigMama1]

@DownYonder

If you are referring to Kyle Rittenhouse, he brought it for self-defense because he was going into a riot zone to help protect a family business from being burned down by the rioting mob.

And MB brought a gun to a property inhabited by two drug addicts with a history of criminal violence who had threatened him, and where there was also an aggressive dog with a recent known history of biting. Sounds the same to me.

[BrownDerby]

And don’t forget superhero RG pointing a finger trigger at MB just a day or two before.

[Knights_Mom]

@iberianfan

So, as has been mentioned, the current annual exclusion amount, per donee, is $16,000. Gifts over that amount have to be reported on form 709, gift tax return. That said, there is no tax due until the donor exceeds the current estate tax exemption which is somewhere around $11mm. The donor files that return.

There are exclusions where medical or educational expenses are paid directly to the provider, then they do not trigger a reporting requirement. However, no such exception exists for attorney fees.

I am responding only to point out that comments made about the IRS needing to know who funded MB’s defense probably would not impact MB’s tax liability. And, while they may trigger a reporting requirement by the donor, it’s highly likely there is no tax due.

Yes and it’s double for a married couple.

[Sdel]

@BrownDerby

And don’t forget superhero RG pointing a finger trigger at MB just a day or two before.

And whatever the farrier heard that didn’t make it into the trial like Bilinkas wanted…