Understanding the gift tax and its limits is crucial when planning your financial gifts, whether for family, friends or others. The IRS sets specific guidelines each year for how much you can give ...

One is the annual gift tax exclusion, also known as the gift tax limit, a set dollar amount adjusted yearly for inflation. You can gift this amount annually to as many recipients as you desire ...

Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're ...

The Tax Cuts and Jobs Act (TCJA), passed in 2017, created a golden opportunity for families to preserve and maximize the ...

This is an excellent way to pass along substantial gifts to children or grandchildren without worrying about the potential tax burden. However, it’s important to remember that the $18,000 limit ...

The arrival of 2025 brings with it increased estate and gift exclusion amounts. For an estate of any decedent dying during ...

Learn the legal steps and strategies to transfer property to a family member without incurring tax liabilities. Discover more ...

Starting this month, individuals with disabilities can accrue more money than ever before in a special type of account that ...

"Can I Gift Crypto Tax Free? It depends on your country’s tax laws; many places may require reporting crypto gifts for ...

Notably, any gifts received from specified relatives are exempt from tax, regardless of their value. These relatives include ...

Let's say that you're an individual who wants to give money to two people, your son and his wife. Maybe this is to help with ...

The festive season is upon us, and celebrations are in full swing with families coming together to share joyful moments and ...