Broker Check

If I Give Someone a Significant Gift, Do They Pay Taxes on it?

March 16, 2021
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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 woods@twfwealth.com - we would be happy to assist you!

Nelson Elder Care Law, LLC is not affiliated with Avantax Wealth ManagementSM