Recent Posts

Archive

Tags

All You Need to Know About the Annual Exclusion Gift

With the holiday season quickly approaching, now is a great time to educate yourself on the United States gift tax system. While gifts are generally thought of as being taxed, there are exceptions that exist. Some examples of nontaxable gifts include, gifts less than the exclusion amount, student tuition, medical expenses and gifts to your spouse. The annual exclusion gift is defined as a gift that is eligible for the annual exclusion from federal gift taxes. The exclusion amount is set each year by the IRS and rises with inflation. The 2017 annual gift tax exclusion amount is $14,000. This amount increased for 2018 to $15,000. This essentially means that an individual can gift this exclusio

352-204-2224

Lauren Richardson Law, PLLC

3620 NW 43rd Street, Suite B

Gainesville, FL 32606

 

Disclaimer: The hiring of a lawyer is an important decision that should not be based solely upon advertisements. This web site is designed for general information only, and Lauren N. Richardson, Attorney at Law, does not offer any warranty or representation as to the site's accuracy or completeness. Every legal situation is unique and no information offered here should be used without the advice of an attorney regarding your specific situation. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Email or phone inquiries do not establish a lawyer/client relationship. No lawyer/client relationship is established until a retainer agreement is executed.

  • LinkedIn

©2016 by Lauren N. Richardson, Attorney at Law. Proudly created with Wix.com