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What is the most a person can give and not have to pay the…

What is the most...

What is the most a person can give and not have to pay the gift tax?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

My uncle wants to give cash to his son but wants to not have to pay the gift tax.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

The amount is 19,000.00

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Answered in 3 minutes by:
3/11/2018
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,995
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

The lifetime gift/estate tax exclusion was raised to $11,000,000 by the latest tax law change.

...

The annual exclusion was just increased to 15,000 (the amount that can be given to as many as one chooses, without filing a gift tax return, which is used to track against that cumulative $11million + exemption)

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Lane

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, to clients on three continents, since 1986

Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,995
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified
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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 13,995
13,995 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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