|
Inter vivos wealth transfers, 1997 gifts.(This Issue at a Glance)(Brief Article)
|
Federal gift tax data provide a glimpse into the economic behavior of predominantly wealthy Americans. Such behavior includes donors' transfer of money and other assets to gift recipients and the creation and continued funding of trusts, both of which are reported on gift tax returns. The population of donors who gave gifts in 1997 and reported those gifts to IRS in 1998 included 218,008 individuals, and those individuals transferred more than $31.1 billion in total gifts. The reported gift tax liability totaled $3.2 billion. Female donors outnumbered male donors, with 53.3 ...
Related newspaper, magazine, and trade journal articles from HighBeam Research
(Including press releases, facts, information, and biographies)
 "Naperville Sun, The (IL)")
|
Don't look a gift tax in the mouth
Newspaper article from: Naperville Sun, The (IL)
; ...your spouse with expensive gifts. There are no gift tax consequences. Second, gifts to charities are not subject...or are excluded from the gift tax rules are taxable gifts. You must report taxable gifts on a gift tax return. The gift tax ...
|
|
Donations to social clubs have gift tax implications.(EXEMPT GROUPS)
Newspaper article from: The Kiplinger Tax Letter
; Donations to social clubs have gift tax implications, IRS says in...permitted a tax deduction for such gifts because social clubs are not charities. But gifts in excess of $11,000 this year can trigger gift tax liability, the same as gifts to individuals. That figure...can total ...
|
|
Estate and income tax planning--gift tax exclusions. (Client Report).
Magazine article from: The National Public Accountant
; ...making lifetime gifts can still be useful...while modifying the gift tax in the interim...basis thereafter. Gifts can serve a function...benefits. While large gifts are subject to...per year free of gift tax. (This inflation-index...before 2002.) These gifts also do not ...
|
|
A comparative proposal to reform the United States gift tax annual exclusion.
Magazine article from: Vanderbilt Journal of Transnational Law
; ...Imposition of Gift Tax 1. Incomplete Transfers...Disadvantages of Gifts C. Net Gifts III...efficiently, a gift tax must exempt from...certain customary gifts, such as birthday...New Zealand, no gift tax is assessed unless the gifts made by a taxpayer...
|
|
Gift tax rules change.(Blackman on Taxes)(Column)
Magazine article from: Modern Machine Shop
; ...first $10,000 of gifts made to other individuals...exempt from tax. A gift tax return is generally not required for gifts qualifying for the...the other hand, a gift tax return generally must be filed for all gifts in excess of $10...revalue lifetime gifts for estate ...
|
|
Income tax vs. gift tax - dependants as donees.
Magazine article from: The Tax Adviser
; ...will be deemed gifts. In determining...necessity of filing a gift tax return, the CPA...exceptions to the gift tax rules. The Code provides that gifts of a present interest...exempt from the gift tax provisions. Nonspousal gifts in excess of the...
|
|
Gift tax exclusion becomes tool in year-end planning.(Guest Column)
Magazine article from: San Fernando Valley Business Journal
; ...strategy is the annual gift tax exclusion. Not only do lifetime gifts reduce the size of...their ability to make gifts. What is the gift tax? The gift tax applies...exclusions What other gifts are excluded from gift tax? Tuition and medical...
|
|
|
Gift tax SOL prop. regs.(statute of limitations; IRS proposed regulations)(includes proposed disclosure requirements)
Magazine article from: The Tax Adviser
; ...tax purposes, gifts that could not be revalued for gift tax purposes could...disclosed on a gift tax return. However, prior taxable gifts remain adjustable...any event, the gift tax return instructions...Chapter 14 rules for gifts of closely held...
|
|
Reviewing the ins and outs of filing gift tax returns
Newspaper article from: Intelligencer Journal Lancaster, PA
; ...individual without any gift tax consequences. If the only gifts you made during the...taxpayer reports taxable gifts each year on the gift tax return. Each gift tax...generation-skipping exemption to the gifts, one had to file a gift tax return and ...
|
|
MONEY: Learn rules to avoid having to pay gift tax
Newspaper article from: Sunday Gazette-Mail
; ...you to give without being hit by the gift tax. Any person can give $11,000 a year to...or she wishes without triggering the gift tax. Besides cash, gifts of real estate, antiques or shares of...following the year the gift is made. Gifts to spouses, political organizations and...
|
For more facts and information,
see all results
Find more facts and information related to the article "Inter vivos wealth transfers, 1997 gifts.(This ..."
