"Looking for Fine Art, China, Fiestaware, Vintage Clothes and Furniture Etc.?

For convenient shopping check out our Virtual Store, just click on the Link or Blog Icon."

We accept SQUARE

Sunday, January 16, 2011

To Gift or Not To Gift

The federal tax code currently exempts Gifts up to $13,000 in aggregate per individual per calendar year. Anything after that is taxable under the current federal tax law.

Individual State exemption tax rules may differ from the Federal law, so confer with a qualified CPA in your State regarding these and other rules.

IRS Link:

No comments:

Post a Comment