The federal gift tax rule is that when money or property is exchanged without the expectation of receiving at least something of equal value in return, gift tax may apply, accordin...
Gift Tax Rules
One of the federal government's many ways of taxing U.S. citizens is through the imposition of a federal gift tax. This is a tax generally paid by people who give lifetime gifts worth more than $1,000,000 to any one person. Gift tax compliance requires...
The remainder interest gift tax rules apply the gift tax on the entire value of the
trust by assigning a zero value to the interest retained by the donor.
Below are some of the more common questions and answers about Gift Tax
issues. You may also ... The general rule is that any gift is a taxable gift. However
Scenario: You are financially well-off, maybe even wealthy. You would like to
make some significant gifts to people you care about. Plus, you've heard that by ...
Oct 30, 2014 ... The federal estate tax exemption rises to $5.43 million per person for 2015, but
the annual gift exclusion amount stays at $14000.
Gifts made during your lifetime will reduce your taxable estate. However, gifts in
excess of the annual exclusion also reduce your estate tax exemption. In the ...
As you consider making gifts, keep in mind that very different rules determine the
tax basis of property someone receives by gift versus receives by inheritance.
Special rules apply to spouses who are not U.S. citizens. ... If someone gives you
more than the annual gift tax exclusion amount ($14,000 in 2015), the giver ...
How common Is that reaction to the mere mention of estate planning? But now
that the cloud of uncertainty has been lifted over estate and gift tax rules, there