Consider all the tax consequences before making gifts to loved ones
Submitted by Eck, Schafer & Punke, LLP on October 16th, 2018Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce substantially different tax consequences.
Multiple types of taxes