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Ep. 141 | Gift Taxes 101
Manage episode 490675934 series 3095761
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Join hosts Chris Picciurro, CPA, and John Tripolsky as they break down the often-confusing world of gift taxes in this comprehensive Gift Tax 101 episode.
What You'll Learn:
• Who pays gift tax (spoiler: it's not who you think!)
• The 2025 annual gift tax exclusion of $19,000 per recipient (2024 = $18,000)
• How married couples can strategically gift up to $36,000 per recipient
• Why gifting appreciated assets is usually a bad idea
• Smart strategies for wedding expenses and family financial support
• Advanced planning with 529 super-funding and valuation discounts
Key Takeaways:
The donor (gift giver) pays any gift tax and files returns, not the recipient. Most gift tax returns are informational only, with no actual tax owed. Learn practical strategies, such as timing gifts across tax years and paying tuition or medical expenses directly to providers, to avoid gift tax implications entirely.
Advanced Strategies Covered:
• 529 plan super-funding up to $95k per beneficiary in 2025 (2024 = $90k)
• Valuation discounts for closely-held businesses
• Gift splitting for married couples
• Estate tax planning considerations
Resources:
Find a tax professional at www.2025.tax
Join/Comment > www.DefeatingTaxes.com
Episode Sponsor:
Integrated Investment Group
- (00:00) - Understanding Gift Taxes and Their Impact on Financial Success
- (02:32) - Understanding Gift Tax and Estate Planning Strategies
- (09:54) - Gift Tax Strategies and Planning Opportunities for Families
- (18:10) - Advanced Gift Tax Strategies and Estate Planning Insights
- (23:17) - Crocheting Business Success and Gifting Tax Implications
144 episodes
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