Rich Families Are Legally Separating from Their Kids to Pay Less for College

Re:Rich Families Are Legally Separating from Their Kids to P... by bcheung on Wednesday August 28, 2019 @02:46PM (#20822735)

I'm supportive of this. Children should not be held accountable for "the sins of their parents". My parents started charging me rent when I was 18 and told me I had to pay for college entirely by myself. I don't see why their income should be held against me.

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Re:Rich Families Are Legally Separating from Their Kids to P... by dmoy on Wednesday August 28, 2019 @02:48PM (#20822750)

From reading the article, I think the point is that these kids aren't actually supporting themselves, they're just made to seem that way on paper.

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Re:Rich Families Are Legally Separating from Their Kids to P... by martin8412 on Wednesday August 28, 2019 @02:54PM (#20822806)

Surely their income from their parents is taxable at normal income tax level then?

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Re:Rich Families Are Legally Separating from Their Kids to P... by ohyeshedid on Wednesday August 28, 2019 @03:38PM (#20823274)

Only if they give/receive more than 11.1 million over the course of their lifetime.

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Re:Rich Families Are Legally Separating from Their Kids to P... by dmoy on Thursday August 29, 2019 @01:01AM (#20826819)

And that, only the amount over $30k/yr for a couple gifting their child.

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Re:Rich Families Are Legally Separating from Their Kids to P... by jkdufair on Wednesday August 28, 2019 @03:48PM (#20823379)

Alas there are some pretty generous tax breaks on gifts.

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Re:Rich Families Are Legally Separating from Their Kids to P... by cdmcmahon on Wednesday August 28, 2019 @02:49PM (#20822766)

Yeah, that's not what's happening with the people in this story...

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