Well, my first question is: Is it even safe for me to deposit a check this large? It was a gift from an Aunt and Uncle. I'm assuming they worked it out with tgeir accountant and either decided to eat the gift tax, or since it was a gift from two people it doesn't go past the 14k per person limit. Second, I'm a 1099 employee, and pay my taxes every year with pretty much no write offs. Is this grounds for auditing me? It's all in one check, so that's what concerns me. I don't have anything to hide, but I really dont want to have to pay taxes on this money. Third, if it is safe to accept all at once, I have a few investment ideas which I'd like advice/opinions on. So with this check, and my incoming paycheck, I'll have $25,000. Easily the most money I've ever had in my life. I'm 25, single, no kids, and I rent. So zero tax write offs. I wad planning to put 5-6k of my money before the check into an IRA to lower my income and also get a retirement account of some sort going. I'm also planning to buy a house in early 2018, so between 3-9k of it will be going towards down payment on a house, depending on the loan program. I'd also like to keep ~5k as a rainy day fund in case I get hurt or lose my job. That leaves me with 5K-13K left to invest with. I was thinking of going with a cryptocurrency after doing a ton more research. Do you guys have any advice on that? Or other suggestions for investment? Thank you in advance.
Submitted August 25, 2017 at 12:44PM by Tiy991 http://ift.tt/2xjLI31
