Tag Archives: gift tax

Give to cut taxes

If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Doing your gift-giving during midyear rather than late in the year is especially smart if … Continue reading

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Use this annual exclusion by December 31

Under current federal tax law, in 2016, you can take advantage of an annual exclusion to give up to $14,000 to as many individuals as you want without paying gift tax. If you’re married and your spouse joins in the … Continue reading

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Giving Away Money? Know the Tax Laws

Feeling generous? Want to give a gift of cash or something equivalent to a family member or friend? You should understand the tax implications. There are numerous reasons why you might want to give a gift to someone you know. … Continue reading

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