How much money can parents gift to adult children yearly, without inviting taxes/penalties??

$10,000 per

According to the IRS for 2009, the limit is $13,000.00 per person based on the regulations.  This is the gift tax exclusion. For 2010, the federal estate tax will disappear, which leaves everyone wondering what will happen to the gift tax exclusion.  In other words, with the brief disappearance of the federal estate tax, will there no longer be a gift tax exclusion?  If it does disappear, you can pay a tax if a significant amount is given to let's say a non-spouse or non-profit or other trust oriented type gift.

For more information regarding your gift tax limits, and if you are looking at a more global picture of estate planning, not only visit irs.gov but you may wish to consider speaking with an estate planning attorney who handles wills and trusts in your state.  Try www.attorneypages.com as one option.