Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

Searching for homes and scrolling through listing photos is fun, but saving up for a down payment can be a real challenge. That’s why some home buyers turn to family for a helping hand in the form of ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2024, you can give your son and daughter-in-law each $18,000 without having to deal with ...

Forbes contributors publish independent expert analyses and insights. Darren Case is an Arizona attorney covering tax and estate planning. Dec 24, 2024, 05:21pm EST Model in Vasser wool flannel red ...

THE 2001 ACT DID NOT ELIMINATE THE GIFT TAX. That means CPAs and their clients still face compliance issues when preparing and filing Form 709, United States Gift (and Generation-Skipping Transfer) ...

Some clients and their advisors may think it’s okay to use a 409A Valuation Report for a gift or estate filing. While they may get away with it if there’s no audit, it’s not advisable. Section 409A ...

Estate planning for high net worth individuals often involves the lifetime gratuitous transfer of assets to family members or trusts for their benefit. Oftentimes these gifts should, and in some cases ...