2023 Annual Gift Tax Exclusion

2023 annual gift tax exclusion

The annual gift tax exclusion is a tax-advantaged way to transfer wealth to loved ones during your lifetime. Each year, you can make gifts of up to the annual exclusion amount to as many individuals as you like without incurring any gift tax. For 2023, the annual gift tax exclusion is $17,000. The annual gift … Read more

Annual Gifting Limit 2023: Understanding the Rules

annual gifting limit 2023

The annual gifting limit refers to the maximum amount of money or property that an individual can give to another person without incurring a gift tax. This limit is set by the Internal Revenue Service (IRS) and is adjusted periodically to account for inflation. The annual gifting limit for 2023 is $17,000 per person. The … Read more