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Do I Have To Pay Tax On Money Given As A Gift?

The gift tax is levied on both cash gifts that is cash, cheques or drafts and certain gifts in kind like property and shares More »
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What Is the Gift Tax on Money Given to Relatives?
Gifts to spouses are entirely exempt from the federal gift tax. The only exception to this general rule is that gifts to a spouse who is not a U.S. citizen are limited to $133,000 tax free. However, gifts to spouses who are U.S. citizens have no  www.ehow.com
How to Avoid Paying Gift Tax.
1. Understand what gifts are not considered taxable gifts. The federal government does not tax all gifts. Some gifts, which are not taxed, are: Gifts given to your spouse, who is a United States citizen. You may transfer an unlimited amount of  www.wikihow.com
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