If you made gifts during 2015 in excess of the $14,000 annual limit to any one person, you may need to report the transaction to the IRS. When you and your spouse agree to “gift splitting,” you could give up to $28,000 to any one individual with […]
Read more →If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Doing your gift-giving well before year-end is especially smart if you are giving income-producing property. You will then remove more income from […]
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