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gift tax |
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gift tax n. Federal tax on large gifts. Gifts to members of a family may be up to $10,000 a year to each plus a life-time $30,000 in gifts without tax. Several states also impose gift taxes. As with all tax questions, professional assistance in gift tax planning is vital. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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It is well-established gift tax law that a "condition subsequent" is void for gift tax purposes as contrary to public policy. CPAs and their clients can read a comprehensive guide to the federal gift tax at this e-stop. By transferring interests in an FLP to family members, a donor can apply substantial discounts in valuing the gift for gift tax purposes. |
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