If you give someone money or property during your lifetime, you may be subject to the federal gift tax. The following tips will help you determine if your gift is taxable or if you are required to file a gift tax return. 1. Most gifts are not subject to the gift tax. For example, there is usually no tax if you give a gift to your spouse or to a charity. If you give a gift to … [Read more...] about Eight Tips to Determine if Your Gift Is Taxable
Sunnyvale
Will Itemized Deductions Be A Thing of the Past?
With the national debt and tax simplification taking front burners these days, there has been a great deal of discussion by both political parties and bi-partisan groups about doing away with or substantially altering itemized deductions. Itemized deductions have been around for as long as most of us can remember, and altering these deductions would have a profound effect on … [Read more...] about Will Itemized Deductions Be A Thing of the Past?