A key rule is that the giver is responsible for any tax, not the recipient. But most people never owe any gift tax because of ...

Big generosity does not always trigger a big tax bill. Under federal rules, several categories of large gifts are completely ...

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 ...

The One Big Beautiful Bill Act (OBBBA) updates estate, gift and charitable rules, raises exemptions and adjusts SALT ...

Our guest columnist breaks down new provisions that could have an impact on businesses in Maine, especially those that invest ...

On July 4, 2025, President Trump signed a new tax law, Section 70106 of H.R. 1, which creates a new $15 million “permanent” federal estate and gift tax exemption, effective for estates of decedents ...

Beverly is a writer, editor, and paralegal specializing in personal finance and tax law. She covers personal financial and legal topics, as well as tax breaks, tax preparation software, and tax law ...

Our gift tax calculator estimates how much of your annual and lifetime exclusions will be used up by your gift, and whether you'll have to pay any taxes on it. Many, or all, of the products featured ...

The sky did not fall after all. For all the handwringing and prognostication, wealthy families (and their advisors) breathed a sigh of relief with the passage of the One Big Beautiful Bill Act (OBBBA) ...

But what many don’t realize is that gifting property, or even the cash to buy it, can come with unexpected tax consequences. Under federal law, certain gifts might be subject to the gift tax, and if ...