Tax advantages for gifting money to children?

Posted on January 4, 2009
Filed Under FAQ |

gifting
Is there an advantage of gifting more or less than IRS allows?


Cash Gifting

Comments

One Response to “Tax advantages for gifting money to children?”

  1. Clark Kent on July 18th, 2007 11:15 AM

    There is no limit imposed by the IRS, but you must file a gift tax return if you give over the threshold amount. Even if you must file, no tax is due until the gifts total over a million dollars. If all the gifts add up to enough there is a tax. Also, the total gifts are added in calculating how much Estate tax is due upon death. $12,000 is the annual amount under which you can give.

Leave a Reply




*Valid Information Required to gain access to main website.
We keep all e-mail information private & confidential and do not give it out to any third parties. There are no guarantees regarding specific cash-flow. Your results may vary. The testimonials and examples used are based on actual results, however, they are not intended to represent or guarantee you will experience the same results.
Legal Information
Disclaimer | Terms of Use | Earnings Disclaimer | Privacy Notice Child Protection Law Compliance | Anti-Spam Policy