It's not too late....

So I just found out that one of the classes that I wanted to take for the fall quarter is not being offered. What this means is that I'll have to choose another course that is being offered and that falls in line with my degree progression. But it's not too late; at least I'm not scrambling around at the last minute, trying to find classes. I plan to go online tomorrow and make another selection. Hopefully this one will work out. I also look forward to my internship in the near future. I still have to figure out my work schedule, but I'm feeling more confident and less anxious these days that things will work out.

This week in Finance, we're discussing the tax benefits of making payments on behalf of someone else vs. giving them the money as a gift and they make their own payments. If one were to make payments for someone else and they are not legally obligated to do so, no one gains a tax benefit. The reason being is, if one is not legally obligated to financially care for someone else's debt, then a deduction cannot be claimed for that purpose; and the individual that did not care for his or her own debt cannot claim a deduction, either. However, if a gift is made to the individual and he or she cares for his or her financial responsibility, while the person making the gift cannot claim a deduction, he or she will not incur a gift tax provided the gift amount falls within the tax amount allowed. And the person who makes the payments with the money he or she is given can then claim the amount on his or her own tax return. It makes sense when you think about it; why should either party get a tax break for something that was established between them, with no legal obligation to the payor?