Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules.

Fewer taxpayers are subject to gift taxes thanks to a $12,920,000.00 lifetime gift tax exemption for 2023. Because many taxpayers do not fall under the exemption amount, they do not necessarily have ...

If in 2018 you gave someone cash or property valued at more than $15,000 or if you do so in 2019, you’ll have to fill out Form 709 for gift tax purposes. But don’t fret. This doesn’t always mean ...

After the 2020 election, certain tax proposals provided for a reduced BEA (from $11,700,000 in 2021) to take effect as soon as Jan. 1, 2022, four years earlier than the TCJA sunset. As such, many ...

Thinking about giving money or assets to family or friends? The IRS has strict gift tax limits that affect how much you can give without triggering taxes. This guide breaks down the annual and ...

Image source: asenal29, Wikimedia Commons. Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you ...