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 ...
I sometimes receive a call from a client inquiring about the rules on giving gifts to friends and family. They want to find out if there are any tax deductions and tax implications for gifting. There ...
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) ...
Marlene, a 75-year-old listener, wrote in to ask whether she could give her 50-year-old son $17,000 to help with student loans and get a tax deduction in the process. According to Orman, the answer is ...
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 ...
Young and the Invested on MSN
IRA inheritance tips: How to gift wealth, not tax headaches
You worked hard to have a comfortable life and pass on some wealth to your heirs. Unfortunately, if not done strategically, ...
Key changes in estate and gift tax exemptions and valuation rules for 2025 offer expanded benefits, though some are temporary: Estate and gift tax exemption: The lifetime exemption rises to ...
A businessman successfully proved cash gifts from his sisters were legitimate, avoiding tax evasion charges. The Income Tax ...
Editor’s note: This is part 10 of an ongoing series about using trusts and LLCs in estate planning, asset protection and tax planning. The effectiveness of these powerful tools — especially for asset ...
Few tax laws cause as much confusion as those that apply to the gift and estate tax, and 2014 is no different. Fortunately, the major changes in recent years have been to your advantage. Gift taxes ...
With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes so ...
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