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2. 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."

3. Are Gifts, Prize Winnings and Non-Cash Bonuses Taxable? - AOL

   www.aol.com/gifts-prize-winnings-non-cash...

   According to the IRS, the donor typically pays taxes on gifts, and annual exclusions apply up to $16,000 per person for tax-year 2022. So, if a person gifts each of their four children $10,000, no ...

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

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

   Annual Gift Tax Exclusion for 2025. The annual gift tax exclusion allows you to give up to $19,000 (starting 2025) and avoid reporting the gift altogether. The annual gift tax exclusion means the ...

5. Taxable Income: What It Is and How To Calculate It - AOL

   www.aol.com/taxable-income-calculate-185222875.html

   You usually only pay gift tax on the amounts that exceed the allotted lifetime gift tax exclusion, which was $13.61 million in 2024 and will increase to $13.99 million in 2025.

6. 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 ...

7. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   Individual income taxes (purple), payroll taxes/FICA (azure), corporate income taxes (green), excise taxes (orange), estate and gift taxes (yellow), other receipts (blue). [ 11 ] Adjustments (usually reductions) to gross income of individuals are made for contributions to many types of retirement or health savings plans, certain student loan ...

8. You won’t owe tax on these 8 types of income - AOL

   www.aol.com/finance/won-t-owe-tax-8-010350925.html

   If you receive assets or cash gifts from friends or family, that gift is tax-free to you. However, the giver may be required to file a gift tax return for large gifts (over $19,000 per recipient ...

9. List of taxes - Wikipedia

   en.wikipedia.org/wiki/List_of_taxes

   Flat tax, an income tax where everyone pays the same tax rate. Gift tax, a tax on gifts given (generally paid by the person making the gift, not by the recipient). Gross receipts tax, a tax on revenues received by a corporation, even if they don't profit. Hall–Rabushka flat tax, a flat tax on income that excludes investments. Inheritance tax ...