Because gifting is irrevocable, it’s important to ask yourself: How does gifting fit into my overall financial picture and financial health? Does it make sense to give up this money? Could it cause financial struggles or issues in the future?

Mar 12, 2025 · Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns. Here’s what you need to know about the federal gift tax and how much …

Mar 28, 2025 · For those considering gifting money or property to another person, gift tax can come into play. See 2024 and 2025 exclusion amounts and rates.

Jan 1, 2025 · Learn ways to maximize your gifting and make it last a lifetime. For 2025, the Internal Revenue Service (IRS) allows individuals to make gifts of up to $19,000 per year to an unlimited number of individuals, with no federal gift or estate tax consequences. A spouse can give the same amount—doubling the amount a couple can gift.

Jan 6, 2025 · Cash gifts and income are subject to IRS reporting rules. Gifts of up to $19,000 in cash are exempt from reporting in 2025. Those who have household employees must report cash payments that...

Jan 21, 2025 · Understand the key guidelines and considerations for gifting money to family, including tax implications and documentation requirements.

Feb 6, 2025 · Giving generously while you’re alive can be more meaningful and impactful. This strategy offers several advantages: You can witness the effects of your generosity, maintain greater control,...

Dec 10, 2024 · Gifting assets is a common strategy employed by high-net worth individuals to transfer wealth, reduce taxable estates and provide financial support to loved ones. The process of gifting has significant tax implications for both the …

Jan 10, 2025 · At its most basic, a gift is defined as the transfer of ownership of a property without the expectation to receive something of equal value in return. Gifts are transferred during the owner's lifetime, so they may reduce the value of the owner's estate at death. Making a gift does not necessarily transfer tax consequences.

Dec 5, 2024 · Thinking about giving your grandchild a generous gift? You might wonder, “Is it taxable?” The answer depends on the value of the gift, how you give it and other factors. Here’s a rundown of what to know about gift taxes. What …