John and his wife Lana wish to gift as much money as possible to their family each

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John and his wife Lana wish to gift as much money as possible to their family each year, without paying gift taxes. They have a total of 15 children, children's spouses, and grandchildren. This year, 3 of the grandchildren are in college. Their total tuition bills equal $41,000. The annual gift tax exemption amount is $15,000.

How much can they gift to their family (total) this year, without paying gift taxes?

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Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets

ISBN: 978-0078024061

5th edition

Authors: Frederick S. Hillier, Mark S. Hillier

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Posted Date: Dec 16, 2023 09:11 AM

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John and his wife Lana wish to gift as much money as possible to their family each

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The annual gift tax exemption amount is 15000 per person Since John and Lana have a total of 15 ... View the full answer

Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets

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