April 24, 2009 6:37:47 AM PDT. Slot machines are only supposed to be legal at one place in North Carolina. That's the reservation in Cherokee. But a loophole in state law is allowing a hi-tech version of slots to stay in play-for now anyway. In Garner, a sign on the storefront of a strip mall says fax, copy, internet. But inside, you don't see a traditional copy store. Instead, you see rows and rows of computers, lots and lots of people, and a very familiar sound: slot machines.
You can take money from your IRA account to give to your spouse, children or grandchildren to pay for approved higher education expenses without paying a penalty for the early withdrawal from your IRA.You will owe any applicable taxes on the withdrawal, but tuition expenses are exempt from gift taxes.ou can take money from your IRA account to give to your spouse, children or grandchildren to pay for approved higher education expenses without paying a penalty for the early withdrawal from your IRA.
Gifting generally is a way to avoid estate taxes for the donor and the recipient, according to Borison. That's because the tax code allows each American to give away up to $5 million -- through gifts, an estate or a combination of the two â tax-free in his lifetime. A married couple can give up to $10 million.Both amounts are adjusted for inflation under the 2010 legislation.I can give $130,000 per year -- and my wife can, too -- and we have not even begun to eat into the $5 million limit.â. Theoretically, there is no limit to the amount you can give away under this part of tax law as long as it is limited each year to $13,000 (or twice that from a couple) per person, he said.