Annual Amount Excludable for Gift Tax

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
Annual Amount Excludable for Gift Tax

Dr. Friday 0:00
Good day. I’m Dr. Friday, President adopted Friday tax and financial firm. To get more info go to www. Dr. This is a one-minute moment.

Dr. Friday 0:12
They did not change the annual amount excludable for gift tax. So again, $15,000 per person. So if you are an individual that wants to try to help your child buy a home, or maybe you’re just trying to maybe give some money so that way, you don’t have to worry about it later in life, then you might want to start thinking about $15,000. If you’re married, your wife can or husband can give 15 to each individual. So if you got three children, each of them can get 15 from each of you. This will be a way for you to help the kids out while you’re still living and you’re not going to have to pay tax when they give that money to them. If you got questions call me at 615-367-0819.

Announcer 0:51
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