Don't worry about gift tax if you recently received a large gift from your mother and/or father. The IRS generally holds the donor liable for taxes. And if the person doesn't...
Posted by Abundant Wealth Planning LLC on 05/22/2022
The federal gift tax is intended to prevent taxpayers from disposing of their assets tax-free during their lifetime, which would prevent their assets from being subject to tax on death....
Posted by KLSM CPA Firm PLLC on 04/30/2022
As long as you repay such a loan fully, there is no need for income taxes on a personal loan. However, the forgiveness of any part of the loan or paying the loan for a lesser amount...
Posted by Karen Munoz, EA on 06/06/2021
Presenting gifts to your loved ones is quite common as it shows that you care for them. Some people are concerned about the gift taxes which you have to pay if you receive a gift from...
Posted by J.R.'S TAX SERVICE on 12/10/2018
Same sex marriage is one of the hottest issue for years now. People are fighting for equal rights and protection, fighting for social recognition and to make relationships legal. Civil...
Posted by John Pournaras Agency on 06/18/2018
