So I had a query and was wondering if you could help me out. I was about to get a substantial sum of money from somewhere which would definitely be taxed by authorities however I would rather invest the money in a project instead of reaching my bank where it would taxed. I have asked my uncle's estate to directly invest the money in the project directly and they have yet to get back to me but is it possible to invest the money before it is taxed. For example if his estate has to give me $100 in total I would want to spend $80 of it on the project and $20 I would like to keep it for myself maintaining myself until the investment matures so I can reap its profits.
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In the US, any estate tax gets paid by the estate before distributing to the heirs. There is no tax on the distributions. Are you sure about the laws in Pakistan? Would be good to double check. If any analogy to the US, the estate has to do the distribution to you. Check with a local lawyer.– Jon CusterJul 14, 2022 at 12:48
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1"Check with a local lawyer" or the executor of the will...– grahamJul 14, 2022 at 15:29
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1Usually money is not taxed by banks, but by governments. Governments don't care if you put the money in a bank or in a project.– littleadvJul 14, 2022 at 16:36
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Are you hoping to avoid owing taxes on the money altogether, or avoid having taxes withheld upfront?– yoozer8Jul 15, 2022 at 13:26
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