A gift that size could require you to pay the federal gift tax, which can reach up to 40%. The good news is you may avoid paying gift taxes altogether, but there are reporting requirements and ...

If you pay the venue, the caterer and so on to reach the $60,000 total, you won't have to report these as gifts or pay any taxes. Gift Planning Tips A financial advisor can help you come up with a ...

If the giver owes a gift tax, the IRS does not require the recipient to pay the tax. In general, very few people pay the gift ...

Down payment amounts above $19,000 and received as a gift must be reported on a gift tax return by the person making the gift—not the beneficiary. But that doesn't mean the donor will pay taxes. "The ...

This shields most people from having to pay federal gift tax. You report excess amounts beyond the annual exclusion on Form 709, but actual gift tax payment only occurs if the total surpasses the ...

Cash gifts and income are subject to IRS reporting rules. Gifts of up to $19,000 in cash are exempt from reporting in 2025. Those who have household employees must report cash payments that exceed ...

"For Love & Money" answers your relationship and money questions. This week, a reader's husband wants a gift to their son to be repaid.

Meta Platforms Inc. agreed to pay $25 million to resolve Donald Trump’s claims that his ban from the company’s social media ...

In addition, the guest noted, the bride has asked her bridesmaids to pay for their own dresses ... "And to make things trickier, cash gifts are a tradition at weddings in her culture.

You can do so through a charitable gift annuity. This type of donation can provide you with regular payments and allow us to serve children in need around the world. You can also qualify for a variety ...

Gift tax is a federal tax on the transfer of money or property to another person. Because of annual and lifetime limits, few people end up owing it. Many, or all, of the products featured on this ...