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Old 05-08-2006, 01:29 PM   #1 (permalink)
Babbaloo

 
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5 cents worth of free advice.

Shoot.




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Last edited by Babbaloo : 05-08-2006 at 01:50 PM.
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Re: Q & A
Old 05-14-2006, 08:05 AM   #2 (permalink)
iluvpenguins

 
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HEY BABBS


Q. Friend of mine is going through legal battles with her ex-husband. Anyway make long story short, he has custody of their daughter, and is requesting child support.

When they were married, I helped her father put in two water wells for them free of charge, (he owns a welling business)......Can she get an invoice for that and use it as part of child support?
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Re: Q & A
Old 05-22-2006, 12:04 PM   #3 (permalink)
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i want babbs job....on vacation 24/7
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Re: Q & A
Old 05-22-2006, 12:07 PM   #4 (permalink)
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Ha! Sorry man. I actually have been busy (golf).




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Re: Q & A
Old 05-22-2006, 12:08 PM   #5 (permalink)
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duh!! ive seen you type before you fancy bad tipper wannabe golfer in my shop!
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Re: Q & A
Old 05-22-2006, 12:13 PM   #6 (permalink)
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Right, so you want to invoice her father for the wells and have that be deemed a benefit to the ex-husband so she doesn't have to pay as much child support?

I would say you should invoice them regardless. If the price of the work is more than $12,000, the IRS will consider this a reportable gift anyway which may lead to a gift tax problem for you down the road. But as for generating expenses, if the expense has not been on the books for awhile but suddenly shows up, then someone will question why - if you did the work, then the expense is legitimate, but the problem is the timing of the expense and not its legitimacy. If no one has seen the company books except the her and her father then the timing wouldn't be an issue. The problem you may run into is perpetuating a fraud on the court which is not a good thing. Therefore I would suggest that if you do invoice her, expect to actually get paid and don't give the money back to her. It kind of defeats the purpose but there are ways to repay her that won't actually generate income (which she would probably have to report to the court later on anyway)




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Re: Q & A
Old 05-22-2006, 12:16 PM   #7 (permalink)
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kinda thought that babby...thanks mate
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Old 05-22-2006, 12:18 PM   #8 (permalink)
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Quoting: iluvpenguins
duh!! ive seen you type before you fancy bad tipper wannabe golfer in my shop!

Yeah that's me Actually, I don't keep score. Its too depressing. And having delivered pizza half of my life, I'm rather simpathetic to people who depend on tips. Ask my bartender. (Yes, I have my own bartender and he lives well




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Re: Q & A
Old 05-22-2006, 12:49 PM   #9 (permalink)
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me thinks im wrong about you babbs, if you want to play with me, just pay me to play a round, maybe you can catch on how to swing the pole
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Re: Q & A
Old 05-22-2006, 03:42 PM   #10 (permalink)
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You got it pal. Torrey Pines is close by (the Buick). Let me know.




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