A blog post

Year-end Gifts

Posted on the 07 December, 2009 at 9:37 pm Written by in Taxes

If you’re planning on giving large cash gifts this holiday season, you can give up to $13,000 per person (to any number of persons) without having to file a gift tax return. The limit is doubled ($26,000) if you’re married and the gift is from you and your spouse.

In most cases, the gift is not complete until the recipient cashes or deposits the check. Be sure this is done by the end of the year.