Sentences with phrase «much federal gift tax»

You may also need to know one more thing: How much federal gift tax, if any, did the donor pay in connection with this gift?

Not exact matches

There is no minimum annual contribution, and individuals can contribute as much as $ 14,000 a year (per beneficiary) and not incur federal gift taxes.

Also, the federal government allows single individuals to contribute as much as $ 14,000 per year or $ 70,000 for five years and avoid gift tax consequences.

One owner of a 40 - person company set up the corporate stock so that he and his wife could gift the shares to their children, including the successor son, as much as the federal income tax law would allow.

Its called the «stepped up basis» and it means strictly from a Federal income tax perspective it is much better to inherit the land rather than be gifted it.