Posts Tagged ‘Gift Tax’

A Breakdown On The Gift Tax

A Breakdown On The Gift Tax Sometimes money is the right gift – elderly relatives might give young families or struggling students monetary presents, or maybe family members that are well off decide to help fiscally struggling relatives. No matter what the reason when giving large sums it is important to make note understand the legalities involved.

You may give money to anyone, regardless of their blood relation to you, and not owe taxes, not have to file a gift tax return, and not have lifetime credit applied.

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