Pinterest • The world’s catalog of ideas
from Money

You'll Owe a Gift Tax if You're too Generous

The federal gift tax applies to all gifts that you make during the course of your lifetime. Whether a gift will be taxable for gift tax purposes depends on three things. Find out what they are and if you have made any taxable gifts.

Oriental Trading usually donates a $25 gift card to organizations with current tax exempt status under Section 501(c)(3), or be a public school, college or university operated exclusively for public purposes. Online PDF application with mailing address:

from WSJ

Review & Outlook: The Die Harder States

Minnesota new 10% gift tax w/ $1 mill exemption. A gift tax is a levy on money given away while still alive. This is in addition2 MN's 16% estate tax. The new law is all the more punitive bec it applies 16% estate tax (6% on top of the earlier 10% gift tax) 2any gift within 3yrs of death. This is essentially clawback tax or more taxation w/o respiration. Democratic Governor Mark Dayton signed the law, heir2a department store fortune & knows about inheriting wealth but not much about creating…

from Forbes

IRS Announces 2015 Estate And Gift Tax Limits

IRS Announces 2015 Estate And Gift Tax Limits: The federal estate tax exemption rises to $5.43 million per person for 2015, but the annual gift exclusion amount stays at $14,000.


Segment 80g of the Income Tax Act, 1961 licenses benefactors to Societies Registered U/s 80g profits of pay responsibility exemption on their gift.