The April 15 tax filing deadline is approaching, which also marks the due date for filing a gift tax return if you made ...

Most households don't have to worry about the gift tax. For 2025, you can give up to $19,000, per person, to as many people ...

This is known as the annual exclusion. For example, say you have three adult children and you give each of them $25,000 in 2024. You won’t have to pay taxes on this money, but the three gifts ...

By diversifying your retirement income sources to include some of these tax-free options, you can potentially lower your ...

This present interest must exist in order for the annual gift tax exclusion to apply. That's why it's so important that a Crummey letter be sent to beneficiaries to inform them of their power to ...

as there is a lifetime gift/estate tax exemption limit. For 2025, that limit is $13.99 million. There's also an annual gift exclusion limit—the most you can give in 2025 without reporting it to ...

potentially placing you in a more favorable tax bracket while reducing the size of your taxable estate. Annual Exclusion ...

“One of the best ways to cut the amount of tax you have to pay is to make gifts during your lifetime,” says Sarah Coles, head ...

Most households don't have to worry about the gift tax. For 2025, you can give up to $19,000, per person, to as many people as you want without triggering any taxes. This is the annual exemption.

you’ll be taxed on the amount you give away above the annual exemption. As a result, the exact amount you can gift tax-free each year depends on how many people you are giving money to ...