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Episode 105: Gift Tax and How to Gift More Than the Annual Exclusion Limit
Manage episode 420932317 series 3353948
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You may know that there is a limit to monetary gifts you can give to anyone other than your spouse in a calendar year, currently $18,000 in 2024. While $18,000 in gifts is a generous some, what if you want to give more? This often happens with people who want to help their adult children, whether it’s to help them buy a home, chip in for a wedding, or any other reason. It can also happen when people are supporting their parents, sibling, or another family member. This episode talks about how the $18,000 limit is not actually and issue and how you can be as generous as you desire.
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