Many of you have asked me what you should buy Myles for his birthday (12/21) or Hannukah. Some of you just want to get Myles a gift because he's so darn cute. There are others who will go unnamed who believe that a gift here and a gift there will increase your chance of winning a Mylie Award this year (Best Uncle in a Supporting Role, Best Aunt in a Supporting Role, Best Grandparent in a Starring Role, Best Great Grandparent, etc.).
On the right side of this page, you will see Myles' Wish List. If you do buy something from this list, please let me know so I can remove it to prevent multiple purchases of the same item. And those of you who would rather support Myles by contributing to his education fund, please click here. Myles accepts all credit cards.
The following have already contributed to Myles' education fund through Lazerow.com:
John Lazerow
Josh Meyers
Fine Print: Several of you have asked ... Will you or Myles need to pay taxes on this contribution? The answer is no, as long as your gift is less than $11,000 (or $22,000 if you and your spouse contribute together). You see, any US taxpayer can gift up to $11,000 to Myles EACH YEAR. Actually, you can make $11,000 gifts (or $22,000 if you're doing it with your spouse) to as many different people in a year without any tax consequences: your lifetime unified credit ($1 million) is not affected, and the recipient (Myles in this case) pays no tax. Of course, I encourage you to consult your investment counselor or estate planner if you have any further questions. If you don't have one of those, please call Harold Zirkin. If you don't want to talk to Harold, call Levy in Chicago, or just send Myles $11,000, or $22,000 if you're married and you get approval from your spouse. I don't want this whole process to create undue marital strife. That's not my intention. I'm just trying to send my kid to college.
Recent Comments