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 ...

If you earn income through payment apps, it's a good idea to set up separate PayPal, Cash App or Venmo accounts for your ...

However, before you pass along that much cash, it’s important to understand the potential tax implications of making a $30,000 gift. A gift that size could require you to pay the federal gift ...

Nevertheless, the fundamental principle of paying as little in estate taxes as legally permitted is still an imperative for many families. However, the IRS also imposes Gift Taxes on transfer of ...

The gift tax is a federal tax that may be imposed when you give someone property or money, and they don’t give you something of equal value in return. The IRS sets limits on how much you can ...