17 Feb Can I gift money for a house and deduct it on my tax return?
Gifts are not deductible to the donor, nor are they income to the donee....
15 Feb What happens to Medicaid if mom gifts her IRA to her kids?
There is a five-year period where Medicaid will look at your finances....
19 Oct Does N. J. tax gifts or are they tax-exempt?
Gifting relates to the federal gift tax, not the federal income tax....
02 Aug My mom is giving $15K to my son. What about taxes?
You can gift a certain amount every year without having to report it. ...
05 May Should I gift money or let my children inherit?
There are several factors to consider, including taxes....
16 Feb Do I owe taxes if someone gives me a gift?
It's the giver that needs to pay attention to the amount given. ...
25 Jan How much money can I give without owing gift tax?
You have a high lifetime exclusion when it comes to gifting. ...
13 Jan Can I force my grandkids to invest a gift?
Most gifts have no strings attached, no matter your intention. ...
07 Jul I’m getting a divorce. What happens to retirement accounts?
New Jersey is an equitable distribution state. Here's what it means. ...
07 Jul Can I give money away without it being a taxable gift?
The lifetime gift tax exemption is $11.7 million in 2021....