I read through some older posts about this but couldn’t find any specific details.
My wife and I don’t have kids yet and our salaries are about the same (both freelance), so we agreed to split rent and utilities. Everything is in my name and automatically deducted from my bank account or charged to my credit card.
I’ve been aware of this “gift tax” between spouses since we got married and she’s been giving me cash every month for the last few years. Basically, I don’t like having too much cash sitting around and would prefer if she transferred the money to me. However, my clients transfer money to my account, too (I have receipts/invoices for them). I don’t want to declare her bank transfer as a gift or income… it’s not.
Is it really necessary to open another bank account (also no joint accounts in Japan)?
How do I prove that the money she transferred me isn’t the SAME exact money that I invested or used to buy some jeans?
Am I overthinking this and being paranoid?
by golfball509