Great point here. If you are not disclosing them as gifts on your taxes.... does that complicate another entity alleging they are gifts? If you go on a trip with your family, and one person pays for the hotel or accommodation, is that a gift that should be disclosed on your taxes? If you call it a gift on ur taxes but not a gift on ur disclosure, that is going to be a big problem.
Great point here. If you are not disclosing them as gifts on your taxes.... does that complicate another entity alleging they are gifts? If you go on a trip with your family, and one person pays for the hotel or accommodation, is that a gift that should be disclosed on your taxes? If you call it a gift on ur taxes but not a gift on ur disclosure, that is going to be a big problem.
Great point here. If you are not disclosing them as gifts on your taxes.... does that complicate another entity alleging they are gifts? If you go on a trip with your family, and one person pays for the hotel or accommodation, is that a gift that should be disclosed on your taxes? If you call it a gift on ur taxes but not a gift on ur disclosure, that is going to be a big problem.