Christmas in July: Federal Gift Tax
The Federal Gift Tax and You What is the gift tax? Do I owe a gift tax? Do I need to report all gifts to the IRS? There are certain amounts and ways to give gifts tax free to your descendants and friends both during your life and through a properly arranged Estate Plan. What’s important is to learn the rules, set up a clear Estate Plan with Gary (858-549-8600) and make sure your loved ones and finances are all squared away. What is the federal gift tax? The gift tax is a federal tax that applies to all the gifts you make in a lifetime. Lucky for most, unless you live in Connecticut or...
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