What Is the Annual Gift Tax Exclusion? - PowerPoint PPT Presentation

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What Is the Annual Gift Tax Exclusion?

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There are tax on the gifts that you give while you are living. But most people don't pay the gift tax because there is an annual gift tax exclusion. Learn more about Reno Nevada gift tax exclusion in this presentation. – PowerPoint PPT presentation

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Title: What Is the Annual Gift Tax Exclusion?


1
WHAT IS THE ANNUAL GIFT TAX EXCLUSION?
2
Taxes on Gifts
3
There is a tax on gifts that you give while you
are living
4
Most people don't pay the gift tax because there
is an annual gift tax exclusion
5
Exclusion Details
6
The annual gift tax exclusion amount is 14,000
7
You can give gifts to any number of people
within a calendar year tax-free as long as they
don't exceed 14,000 PER PERSON
8
Gift Splitting Combining Individual Exclusions
9
If you are married you have a 14,000 exclusion,
and your spouse has a 14,000 exclusion
10
  • As a couple you could combine the two and give as
    much as 28,000 tax-free to any number of gift
    recipients within a calendar year

11
Marital Deduction
12
You don't have to use your annual gift tax
exclusion to give tax-free gifts to your spouse
13
There is an unlimited marital deduction
14
  • This allows you to give tax-free gifts to your
    spouse without constraint

15
Subject to Change
16
This 14,000 figure that we are using is in
place for 2014
17
It is subject to change to account for inflation
18
It can also be changed via legislative mandate
19
Larger Transfers
20
To transfer larger amounts in a tax efficient
manner you must employ advanced wealth
preservation strategies
21
Reno Wealth Preservation Consultation
22
If you would like to discuss tax efficient asset
transfers with a licensed estate planning
attorney contact our firm to schedule a free
consultation
23
If you live in northern Nevada give us a call at
775-823-9455 WILL to make an appointment
24
If you live in northern Nevada give us a call at
775-823-9455 WILL to make an appointment
Or visit our website
www.Wealth-Counselors.com
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