[tvrboy]

Quote:

Originally Posted by davidhunternyc /img/forum/go_quote.gif O.K., so now that we are best friends, best friends tell you what you need to hear, not what you want to hear. So as your best friend, if you don't set aside $4000 of that money for taxes, you will be screwed. Your father may very well be looking out for your best interest, but this is an opportunity for you to take responsibility and learn how the world works. Please don't pass it up. Heck, you will still have $6,000 that you can spend on all your hearts desires... as well as your new best friend.

It wasn't a lottery win, it was a scheduled distribution from my trust fund, so I'm not sure how the taxes on that would work.

 

[HeadphoneAddict]

Quote:

Originally Posted by tvrboy /img/forum/go_quote.gif It wasn't a lottery win, it was a scheduled distribution from my trust fund, so I'm not sure how the taxes on that would work.

In the US, I seem to recall gifts from family or trust under $10,000 are not taxed - anyone know if that is right?

 

[El_Doug]

Quote:

Originally Posted by HeadphoneAddict /img/forum/go_quote.gif In the US, I seem to recall gifts from family or trust under $10,000 are not taxed - anyone know if that is right?

gifts can be up to $13,000 tax-free

it would depend on the nature of the trust, whether he should claim it as income. however, it never hurts to claim that your school expenses came from the trust money, and therefore can be deducted

 

[tvrboy]

Thanks for the heads up guys, I will check on this. I haven't actually spent anything yet.

 

[fenixdown110]

Quote:

Originally Posted by n3rdling /img/forum/go_quote.gif Could you explain this a little more? Just curious. Looking at the Apple stock history it looks impossible, so I'm guessing you meant a different form of investing in Apple. Do tell, this stuff is always interesting.

Looking at Apple's stock history, it WAS very possible.

 

[BaboonGuy]

This is my very serious answer:

-Pico DAC (get used, it's cheaper) for home source / whatever DAP you like for portable source

-Pico Slim for AMP

-JH-13 for sex in the ear

For under $2000 you have an amazing home and portable setup. Save the rest for investing and/or purchases that you are absolutely 110% sure are good purchases to make.

Thoughts guys? Maybe I would add a Dynalo (Gilmore Lite or Sheer Audio HA-006++) for the home amp.

 

[DCofficehack]

Try opening a high-interest on-line savings account with HSBC or ING. Do that now while you sort this out. There's zero penalty for withdrawing it (to spend, or to put into some kind of stock market account, or a long-term CD). I think it would be dumb to spend anything more than $500, and certainly not $1000.