The Difference Between Gift Tax Exemption and Annual Exclusion
Want to support your loved ones financially without tax issues? Understanding the difference between gift tax exemption and annual exclusion can turn would-be givers into savvy benefactors. This is not just about generosity, it’s about strategy. In this guide, we’ll unravel these concepts, empowering you to share your wealth while sidestepping tax pitfalls. But which concept should you employ? How can you better make your gifts count? Let’s find out! Definition and Scope The gift…