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.
Under current IRS law, you can lawfully give away $14,000 annually without any tax consequences to your children. If your spouse is still alive, you can give a combined gift of $28,000. As you can imagine, this provides for a loophole large enough for some very creative ways to give property to your children.