If you give the money to her instead you and your Wife can each gift her $14,00 without becoming taxable to her, if that is not enough to cover the cost you can each give whatever leftover amount to her daughter, also with no tax consequence, the lady can then pay for the van, paint job and steam cleaner and expense the whole mess off against her taxable income in 2015, a double win. If you give her the whole smear outright you and your Wife can still give up to the maximum value of $14,00 each but it would have to be in her name, not a business name, still no tax to her but no deduction either.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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