FYI I’m in a car o no a long car ride; hence the abundance of random long winded posts.
My Dad was right about his watches. Here’s Chat GPTs answer to the choice of live gifts vs. inheritance:
Yes, giving someone a Rolex (or any valuable asset) while you’re alive can potentially save money compared to leaving it as part of an inheritance. Here’s why:1. Avoid Estate Taxes: When you give gifts while you’re alive, especially if the value is below the annual gift tax exclusion (which is $17,000 per person as of 2023 in the U.S.), you can avoid estate taxes. Large estates may be subject to hefty taxes upon death, but gifting assets like a Rolex while alive could reduce the overall value of your estate and therefore lower estate tax exposure. 2. Appreciation in Value: If a Rolex appreciates in value over time, giving it now rather than later might help avoid potential capital gains taxes. The recipient may benefit from receiving it at its current value rather than inheriting an even more valuable asset down the road. 3. Gift Enjoyment: Another side of Girl Math—by gifting something like a Rolex now, the person gets to enjoy it while you’re alive, and you experience the joy of giving. Plus, you avoid the complexity of managing its transfer after death.
Of course, if the gift exceeds the annual exclusion, you might have to report it, but it still could result in long-term savings depending on the size of your estate.
From what AI said I thought how if you’re super wealthy, this year you can give out annual gifts of 18000 per individual and your spouse can as well if you want. Imagine you do that with 3 relatives, you’ve given out $108,000 of your money with no taxes, or twice that much if a couple does it. If you waited I don’t know what the tax would be. I don’t have that kind of money lying around but the point of all this, is that, through my adhd hyper focus on Girl Math, I’ve realized how fucking smart it can be on a very high level. I own a watch that should never be taken to a pawn shop,but if necessary, Sotheby’s, although you’d have to pay taxes on the sale.
Money is fascinating when you don’t have a college economics exam coming up, and you use the topic creatively to distract yourself from the complicated upcoming studio move I’m avoiding…
The Girl Math on new Bose headphones is coming soon, I hope before I’ve returned a set to Amazon and received the other set I ordered. For starters, they’re not black or silver, they’re moonstone blue:
This is the first part of real Girl Math, for people to deal with spending not 18000 but between $200-300, making the agony fun.
6 Impossible Things For Breakfast 