Gifting Money | Part 2 (Gifting More to Multiple People)

Q:  You talked about gifting your kids money last month, and my husband and I want to give our son and his wife more than $50,000 so they can buy a house.  Can we do that and not have to file anything? A:  Yes, actually you can.  The gift limit is $14,000 per person per […]

Gifting Money | Part 1 (Inheritance Distribution)

Q:  I want to give my kids some money that I received since my mother passed away.  Someone told me I couldn’t give them over $10,000 or they’d have to pay tax on it.  Is that true? A:  No, you can gift anyone up to $14,000 per year per person without having to file a […]