Thursday, November 6, 2008
Annual Exclusion from Gift Tax
The Annual Exclusion from gift tax allows gifts to as many recipients as you want without paying any gift tax, as long as no one recipient receives more than the limit. For the remainder of 2008, the annual exclusion is $12,000 per person. The limit is set to rise to $13,000 per person on January 1, 2009.
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