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Lifetime Gift Planning in MCLE Mcle  Form

Lifetime Gift Planning in MCLE Mcle Form

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welcome to county office your complete guide to local government services and public records let's start learning what is the lifetime gift tax exemption the lifetime gift tax exemption is the total amount of money you can give to someone during your lifetime without incurring a gift tax as of 2021 the lifetime gift tax exemption is 11.7 million dollars per individual or 23.4 million dollars per married couple any gift over this amount will be subject to a gift tax the gift tax rate is currently 40 however there are some exceptions to this tax such as gifts for medical expenses and tuition payments it's important to keep track of your gifts and report them on your tax return this exemption is separate from the annual gift tax exclusion which allows you to give up to fifteen thousand dollars per year to an individual without incurring a gift tax to learn more check out these links which you can click in the description below and feel free to comment your questions we're here to help tha

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