Making a Year End Gift Before Going Over the Fiscal Cliff
Just a reminder, for the rest of this year, every US citizen and permanent resident alien has a $5,120,000 gift tax exemption. On January 1, 2013, regardless of who the president is, if Congress does nothing, then the gift tax exemption drops down to about $1,000,000. (Technically I think it is $1,000,000 indexed for inflation […]