Brits who have gifted money to family members in the past seven years have been warned that they could be liable for ...

A key federal estate, gift and generation-skipping transfer tax exemption included in the Tax Cuts and Jobs Act (“TCJA”) is ...

Families are often able to build up a substantial net worth through owning property, like a farm, or a small business.

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 ...

Tax season can feel overwhelming, especially for baby boomers who may be navigating retirement plans, investment portfolios ...

My brother and I want to do the right thing for our younger brother and give him an equal share from our inheritance. I know ...

But even if you give more, you won’t have to pay any taxes right now. In fact, unless you surpass the lifetime limit, currently $13.99 million, you won’t have to pay any gift taxes.

The 2024 law is similar to a law Pritzker signed in 2019 creating a property tax relief task force. The report that resulted ...

Gifting is a heartfelt way to express love and affection towards our dear ones. In 1958 by Parliament of India, the gift tax ...