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 ...

You don’t owe gift taxes and aren’t likely to because of the lifetime estate and gift tax exclusion, so you don’t have file a gift tax return. Right? Wrong, in a number of instances. You might need to ...

A gift tax return (Form 709), if required, must generally be filed by April 15 of the year following the year in which the gift was made. A six-month extension for filing is available. Tax is ...

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 ...

For 2023, the annual gift tax exemption is $17,000, up from $16,000 in 2022. This means you can give up to $17,000 to as many people as you want in 2023 without any of it being subject to the federal ...

There are certain ideas that become so ingrained in the consumer public’s psyche, that they seem almost impossible to dislodge. One of these in the area of estate and financial planning is the notion ...

Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...

Many people give a gift of money to celebrate an occasion or milestone for a loved one without contemplating taxes. And in most cases, you don’t have to worry about it because of the annual tax-free ...

After four years, the annual federal gift tax exclusion has increased from $15,000 to $16,000. The annual exclusion is the most you can give away to or for the benefit of a single person within a ...

Tara Mastroeni is a real estate and personal finance writer. Her work has been published on websites such as LendingTree, Business Insider, and The Motley Fool. She has also been featured as a subject ...