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Recent Posts in Tax Efficiency Category

  • CAN I GIVE GIFTS TO MY CHILDREN TAX-FREE

    When you hear about the gift tax you may wonder about the details. Are gifts that you give to your children taxable? Let’s examine the answer to this question. Gift Tax Parameters You cannot discuss the gift tax without discussing the estate tax, because the gift tax is unified with the estate tax. In fact, the gift tax would not exist if it was not for the estate tax, because it is in place to ...
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  • DO I PAY TAXES WHEN I RECEIVE AN INHERITANCE?

    It seems as though you are taxed every time you receive any type of financial boost. For this reason you may assume that you must pay taxes when you receive an inheritance. In fact, you don’t have to report your inheritance as taxable income. There is however a caveat to this. If you inherit property that appreciates, you have to deal with taxes on the gains. This does not mean that taxation is ...
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