Title: What Is Annual Gift Tax Inclusion?
1WHAT IS THE ANNUAL GIFT TAX EXCLUSION?
2TRANSFER TAXES
3When you transfer assets to others, federal
transfer taxes may be applicable
4ESTATE TAX GIFT TAX
5There is an estate tax that can be applied when
you are leaving inheritances to your loved ones
after you die
6There is also a gift tax that can be levied on
gifts that you give while you are living
7ANNUAL GIFT TAX EXCLUSION
8There is an annual gift tax exclusion
9If the gifts that you give do not exceed the
amount of this exclusion, they are not subject to
the gift tax
10AMOUNT OF EXCLUSION
11In 2014, the amount of the annual gift tax
exclusion is 14,000
12You can give as much as 14,000 per person
tax-free to any number of gift recipients within
a calendar year
13EDUCATIONAL MEDICAL GIFTS
14In addition to the 14,000 per person annual gift
tax exclusion, there is also AN EDUCATIONAL
EXCLUSION
15This allows you to pay school tuition for
students free of the gift tax
16You can also pay medical bills for others
without incurring any gift tax liability
17UNLIMITED MARITAL DEDUCTION
18There is an unlimited marital gift and estate
tax deduction
19Because of this, you can give unlimited gifts to
your spouse at any time free of the gift tax
20TAX EFFICIENCY CONSULTATION
21This has been a brief look at the ANNUAL GIFT
TAX EXCLUSION
22To learn about federal transfer taxes in-depth,
contact our firm to schedule a free consultation
23Click to visit www.attorneyoffice.com