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  Encyclopedia of Keywords > Estate Tax > Gift Tax   Michael Charnine

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  1. A gift tax is a tax that is imposed when an individual gives away a certain amount of gifts that are considered valuable.
  2. A gift tax is a transfer tax imposed on the value of certain gifts.
  3. A gift tax is a tax imposed on the gratuitous transfer of ownership of property.
  4. The gift tax is a tax levied on wealth transfers during the transferor's life while the estate tax is levied on transfers made after the transferor's death.
  5. The gift tax is again reunified with the estate tax.


  1. There are no gift tax implications on the transfer of real estate.


  1. Gift Tax If you give someone money or property during your life, you may be subject to federal gift tax.


  1. The IRS also allows an additional gift of one million dollars in a persons lifetime without paying the gift tax.


  1. The remainder interest gift tax rules apply the gift tax on the entire value of the trust by assigning a zero value to the interest retained by the donor.
  2. The donor is generally responsible for paying the gift tax.
  3. In addition to the annual Gift Tax Exclusion of $13,000 per donee, a donor has the ability to pay for the medical expenses of the donee [IRC Sec.

Federal Government

  1. The federal government also imposes a gift tax, assessed in a manner similar to the estate tax.


  1. Part of federal gift tax due to net increase in value.

Estate Taxes

  1. A related federal levy is the gift tax, designed to prevent people from avoiding inheritance and estate taxes by giving away property before death.


  1. Gift Tax A federal tax applied to an individual giving anything of value to another person.


  1. You must show this trust and GST exemption on your gift tax return for the year you use the exemption.
  2. Next year the annual gift tax exclusion will increase from $11,000 to $12,000.


  1. The purpose of the gift tax is generally to encourage generosity between parties and to help the distribution of wealth.


  1. The Federal Estate Tax is integrated with the Federal Gift tax so that large estates cannot be shielded from taxation by lifetime giving.

Inheritance Tax

  1. The Bahamas is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.
  2. Anguilla is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.
  3. Gibraltar has no capital gains tax, inheritance tax, gift tax or wealth tax.

Estate Tax

  1. Where a jurisdiction has a gift tax and an estate tax (for example the United States at federal level) it is usual to exempt death from the gift tax.
  2. In this sense, a transfer tax (such as gift tax and estate tax) is an indirect tax.
  3. Gift tax. Prevents people from avoiding the estate tax by giving their property away.


  1. The estate and gift tax is the only wealth tax levied by the federal government.
  2. Filing Estate and Gift Tax Returns Learn when to file estate and gift taxes, where to send your returns, and get contact information if you need help.
  3. Estate and gift taxes Under the Estate and Gift Tax Convention, a US shareholder is not generally subject to UK inheritance tax.


  1. The Estate and Gift Tax Convention would generally provide for tax paid in the United States to be credited against tax payable in the United Kingdom.
  2. Gift Tax: This tax is levied by the federal government, and some states, on assets transferred from one person to another.


  1. The taxes which are effective for this purpose are the progressive individual income tax, the progressive estate tax, and the gift tax.
  2. These taxes are due under three separate tax systems: the estate tax, the generation-transfer skipping tax, and the gift tax.


  1. It is the giver of the gift who is required to pay the gift tax.
  2. She could also gift up to (currently) $12,000 per year to as many people as she wants without any gift tax implications.


  1. The treatment of a gift for purposes of the U.S. gift tax (the transfer tax) should not be confused with the treatment of gifts for other tax purposes.
  2. Federal gift tax A federal tax imposed on assets conveyed as gifts to individuals.

Gift Tax

  1. A married couple can pool their individual gift exemptions to make gifts worth up to $24,000 per person per year without incurring any gift tax.
  2. Examples include some income taxes, some corporate taxes, and transfer taxes such as estate (inheritance) tax and gift tax.
  3. Taxes on property in Yugoslavia include: tax on immovable property and shares, inheritance and gift tax, and tax on transfers of title to property.


  1. Estate Tax
  2. Law > Rights > Property > Inheritance Tax
  3. Transfer Tax
  4. Wealth Tax
  5. Capital Gains Tax
  6. Books about "Gift Tax" in

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  Originally created: April 06, 2008.
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