Gift Tax Limits Explained: Annual Exclusions, Exemptions, and Smart...

Gift Tax Limits Explained: Annual Exclusions, Exemptions, and Smart Strategies

Gifting money or assets feels generous — but it also raises tax questions. The short answer: you can give quite a bit each year to many people without triggering federal gift tax, and far more over a lifetime before any tax is due. For clarity and to avoid surprises, most people work with an accounting firm or tax advisor to structure gifts in a way that’s reliable, compliant, and...