Title: What Is the Annual Gift Tax Exclusion?
1WHAT IS THE ANNUAL GIFT TAX EXCLUSION?
2Taxes on Gifts
3There is a tax on gifts that you give while you
are living
4Most people don't pay the gift tax because there
is an annual gift tax exclusion
5Exclusion Details
6The annual gift tax exclusion amount is 14,000
7You 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
8Gift Splitting Combining Individual Exclusions
9If 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
11Marital Deduction
12You don't have to use your annual gift tax
exclusion to give tax-free gifts to your spouse
13There is an unlimited marital deduction
14- This allows you to give tax-free gifts to your
spouse without constraint
15Subject to Change
16This 14,000 figure that we are using is in
place for 2014
17It is subject to change to account for inflation
18It can also be changed via legislative mandate
19Larger Transfers
20To transfer larger amounts in a tax efficient
manner you must employ advanced wealth
preservation strategies
21Reno Wealth Preservation Consultation
22If you would like to discuss tax efficient asset
transfers with a licensed estate planning
attorney contact our firm to schedule a free
consultation
23If you live in northern Nevada give us a call at
775-823-9455 WILL to make an appointment
24If 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