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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.
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."
Gifts like those to commemorate one's retirement of service or reward years of service are not subject to the gift tax. Transfers between spouses are exempt from gift tax in the US if the donee spouse is a U.S. citizen. Otherwise, there is a limit on the tax-exempt transfer.
The exemption amount is increased annually by an inflation adjustment as is the estate/gift tax exemption. With the enactment of the Tax Cuts and Jobs Act of 2017, these exemptions were doubled through December 31, 2025. Thus, as of January 1, 2024, the GST exemption amount is $13.61 million per person (inclusive of the inflation adjustment ...
Tax law changes in 1986, 2006, 2007 and 2017 known as the "kiddie tax" have substantially reduced the tax savings of UGMAs and UTMAs. [ citation needed ] Until 2018, for beneficiaries under 19 (under 24 if a student), the first $1,000 of unearned income was tax-free, the second $1,000 was taxed at the minor's rate (typically 15%), and the ...
JST manufactures numerous series (families) and pitches (pin-to-pin distance) of connectors. [ 2 ] [ 3 ] JST connectors are used in many types of products, and commonly used by electronics hobbyists and consumer products for rechargeable battery packs, battery balancers , battery eliminator circuits , 3D printers , and radio controlled servos .
[citation needed] The larger size has 0.085 inch (2.16 mm) contact pitch. This size, with 36 pins and bail locks, is also known as a Centronics connector because of its introduction by Centronics for use with the parallel port of printers, and is standardized as IEEE 1284 type B. Other connectors of this size are also called Centronics connectors.
1 Mini-DIN 4-pin, 1 Mini-DIN 7-pin, 1 Mini-VGA, 2 BNC, 2 RCA connectors, 8-pin DIN, [4] SCART 21-pin: S-VHS, some laptop computers, analog broadcast video, 1980-1990s home computers including the Commodore 64, C128 and Atari 8-bit computers: The 4-pin mini-DIN that is most common in consumer products today debuted in JVC's 1987 S-VHS. The 7-pin ...