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The IRS allows for monetary gifts to be given without taxation of between $1.00 and $14,000.00 (or the posted rate for that specific tax year) to anyone. This $14,000 maximum gift can be given to anyo...
The unified gift and estate tax credit is the current shelter amount for gifting during ones lifetime and at ones death. When an estate is below the unified gift and estate tax credit limit, there wil...
Parents of minor children often wonder if they can reduce their tax liability by transferring ownership of their assets to their minor children, who reside in a much lower tax bracket. Whether this st...
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