Question: To help minimize gift taxes, I d recommend using the annual exclusion, right now it s $ 1 8 , 0 0 0 per person
To help minimize gift taxes, Id recommend using the annual exclusion, right now its $ per person per year. That means you can give that amount to as many people as you want without triggering taxes. Also, paying directly for someones medical bills or tuition doesnt count as a taxable gift. For bigger gifts, spreading them out over a few years or using gift splitting with a spouse can help too. And for more complex situations, setting up a trust might be worth looking into with a tax advisor.
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