Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. For many foreign individuals, the revelation that they could be ...

Wondering if you’ll owe federal gift tax in 2025? You’re probably in the clear. Most people never pay the gift tax thanks to generous annual and lifetime ...

Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

Many people give a gift of money to celebrate an occasion or milestone for a loved one without contemplating taxes. And in most cases, you don’t have to worry about it because of the annual tax-free ...

Tax planning always requires forethought; however, this upcoming year it is even more vital. The Tax Cuts and Jobs Act (TCJA) doubled the estate tax exemption to $13.61 million for individuals and $27 ...

A. The gift and estate tax laws are not changing at the start of 2025, but if lawmakers in Washington, D.C., don't pass new legislation by the end of the year, there will be big changes at the end of ...

Most taxpayers, from individuals to married couples, are unfamiliar with the concept of the gift tax. The government assesses this tax on certain transfers of money or other assets from one person to ...

A. There are a few items to understand when it comes to gifts and taxes. Gifting relates to the federal gift tax, not the federal income tax, said Tom Szieber, a trusts and estates attorney at Chiesa ...

Q: My husband and I each plan to give our adult children $14,000 this year. My daughter may marry this year, and we would like to pay for much of the wedding. Could paying for the caterer or another ...

Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and the impact of technology on contemporary arts and culture.