What Is the Gift Tax, and When Does It Apply?

Nov 25, 2015 1:56:52 PM / by Dave Boelman posted in Tax Services, Estate Planning, Tax Planning


The gift tax is a tax levied on the transfer of property from one person to another in exchange for nothing or for less than the property’s full value. While this seems to cover many transactions that most of us make many times throughout the year, the exceptions to the gift tax actually make taxable gifts fairly rare.

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