Searching for homes and scrolling through listing photos is fun, but saving up for a down payment can be a real challenge. That’s why some home buyers turn to family for a helping hand in the form of ...

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 ...

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 ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2024, you can give your son and daughter-in-law each $18,000 without having to deal with ...

WASHINGTON, DC - APRIL 07: A small sign indicates the headquarters of the Internal Revenue Service on April 07, 2023 in Washington, DC. In the area of gift taxes, one of the fundamental principles in ...

Learn how to make 529 plan contributions as a gift, understand the gift tax rules, and explore how to contribute efficiently ...

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 2001 ACT DID NOT ELIMINATE THE GIFT TAX. That means CPAs and their clients still face compliance issues when preparing and filing Form 709, United States Gift (and Generation-Skipping Transfer) ...

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 ...

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) ...

A very common family transaction is the transfer of funds to a child or other heir. How that ubiquitous matter is handled is key to the tax and legal consequences. A recent case held that the transfer ...