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  2. How Much Money Can I Gift Without Owing Taxes? - AOL

    www.aol.com/much-money-gift-without-owing...

    For 2023, the annual gift tax exemption is $17,000, up from $16,000 in 2022. This means you can give up to $17,000 to as many people as you want in 2023 without any of it being subject to the ...

  3. Gift tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Gift_tax_in_the_United_States

    A gift tax, known originally as inheritance tax, is a tax imposed on the transfer of ownership of property during the giver's life. The United States Internal Revenue Service says that a gift is "Any transfer to an individual, either directly or indirectly, where full compensation (measured in money or money's worth) is not received in return."

  4. What Are Gift Tax Rates and When Do You Have To Pay? - AOL

    www.aol.com/gift-tax-rates-pay-210701793.html

    The gift tax is any taxes owed on the gifts you have given. As the giver, you would owe the tax to the IRS and have to fill out a tax form.

  5. Gift tax - Wikipedia

    en.wikipedia.org/wiki/Gift_tax

    In economics, a gift tax is the tax on money or property that one living person or corporate entity gives to another. [1] A gift tax is a type of transfer tax that is imposed when someone gives something of value to someone else. The transfer must be gratuitous or the receiving party must pay a lesser amount than the item's full value to be ...

  6. Taxation in Canada - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_Canada

    The Parliament of Canada entered the field with the passage of the Business Profits War Tax Act, 1916 [17] (essentially a tax on larger businesses, chargeable on any accounting periods ending after 1914 and before 1918). [18] It was replaced in 1917 by the Income War Tax Act, 1917 [19] (covering personal and corporate income earned from 1917 ...

  7. 2024 gift tax rate: What it is, how it works and who has to ...

    www.aol.com/finance/2024-gift-tax-rate-works...

    A single person who gives several gifts of up to $18,000 to different recipients in a year, for example, won’t be impacted by the gift tax and won’t have to file a gift tax declaration.

  8. History of wealth taxes in Canada - Wikipedia

    en.wikipedia.org/wiki/History_of_wealth_taxes_in...

    Succession duties have been held to be valid "direct taxation within the province," and can apply in the following scenarios: [1]. property of a deceased person, whether he was at the time of his death domiciled in the Province or domiciled elsewhere, situate within the Province passing to any person for any beneficial interest

  9. Scam Alert: IRS Warns of Scammers Asking for Gift Cards for ...

    www.aol.com/finance/scam-alert-irs-warns...

    If you believe you’ve been targeted by a scammer — even if you didn’t fall for the scheme — you should immediately contact the Treasury inspector general for tax administration through the ...