The average person does not have to pay taxes on the gifts they receive, BUT they may need to file a gift tax return. Watch the video to learn when you should file this return and how gift taxes work.
Main points mentioned in video:
1:00 File a Gift Tax Return
1:29 The two limits to pay attention to
2:40 Tips on how to gift significant amounts of money
3:05 Why do people gift large amounts of money
3:49 Estate Death Tax
Have questions about anything mentioned in this video? Email us at firstname.lastname@example.org - we would be happy to assist you!
Nelson Elder Care Law, LLC is not affiliated with Avantax Wealth ManagementSM