When You Make Cash Gifts To Your Children, Who Pays The Tax?

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Information When You Make Cash Gifts To Your Children, Who Pays The Tax?

Title	:	When You Make Cash Gifts To Your Children, Who Pays The Tax?
Lasting	:	8.27
Date of publication	:
Views	:	80 rb

your mama?
Comment from : @Laguna2013

You give to enybody money $15;000 no taxes
Comment from : @magdastiegler1184

The UNITED STATES NEEDS TO SHUTDOWN THE TAX SYSTEM
Comment from : @Mimigreen2005

If I give my nephew $15,000 as a gift, he doesn't owe a gift tax, but I already paid taxes on the money when I made it In other words, I earned $20,000, paid about 25 in tax, leaving $15,000 which I can now give away
Comment from : @extra-dry

What if I gifted 115 million in face value gold American eagles? 50 dollar face value on the coins, but you can sell them for around 29k each
Comment from : @user-tz5uq2bt1s

Do not report anything to the govt Not their business
Comment from : @brianmckinnon5381

If you give your child $100k and don’t report the gift and your whole estate is only worth $200k , well below the $12MM …do you really need to report it?…
Comment from : @wayneguy6043

Why is there a tax?!
Comment from : @timteevin4517

Do children have to declare money from the tooth fairy? 😆
Comment from : @frankmiller7721

CASH gifts can be hidden from government
Comment from : @Asidebar

Well Done, Michael
Comment from : @paulbrungardt9823

I raised my children for I never would have to worry about giving them cash gifts, they give me cash gifts semper fi
Comment from : @CalvinMorris-cf8jk

My bro bought house for $770k and sold it to his kid for $300k All paperwork is at county website I think he pulled a fast one
Comment from : @stoveguy2133

Nice to know when half the population doesn't have $100000 to their name
Comment from : @davewitter6565

If I have any money left I already paid the tax
Comment from : @oboyboyle6654

That's double taxation and should be abolished Actually, the initial taxation should be abolished, too
Comment from : @galenhaugh3158

OK No gift tax What about income tax?
Comment from : @morganfbilbo462

The government seeks to steal your money which you earned and paid tax on already The politicians that enact these laws should be voted out of office immediately Not going to
Comment from : @bapi6643

Oh, oh, I know the answer Nobody pays the tax Because, who’s dumb enough to report having given or received a cash gift
Comment from : @ShadeIsLikely

So Clear! Thank You
Comment from : @billtuckjr2834

no one should pay those crooks
Comment from : @pierrejamison1239

You do not pay tax on cash gifts to your children to a certain amount of money😮
Comment from : @jerrylockhart3069

Why would you report cash gifts? Cash is nontracible
Comment from : @youarerightboss

OMG You explained this so simply and accuratelybrI can't believe how many videos are out there that never mention the lifetime limitbrFor 2024, the lifetime gift tax exemption is $1361 millionbrFor 2025, the lifetime gift tax exemption is $1399 million
Comment from : @pbinsb3437

Investing in stocks is planting a tree for your future; with patience, it will bear fruit"
Comment from : @MasonJacobo2w

Great explaination
Comment from : @wcctexas

which barbarian country will tax on gift or money given to children or vice versa ?? anybody can have this basic right to give anything to anybody and among family members for sure, it is just family matters and has nothing to do with the government Parents may use huge amount of money to bring the children up until they become an adult, it may be a million, is the government going to tax and parents bringing the children up ?? and even though they become an adult, parents can have the right to give any amount of money to their children and it has nothing to do with the government and tax cannot be involved unless that country is a barbarian one which tax without any reason
Comment from : @Cableman-hr2uu

What if you give over your lifetime exclusion in one year?
Comment from : @lizbs3515

How does the IRS know this is a gift?
Comment from : @equinos111

Can give a gift the the same persons every for the next 20 years if I stay below the maximum for each year?
Comment from : @mrbigcat9

Quick car question! I bought a car for cheap from my parents Let's say 1,000 USD If I turn around and sell it 8-10 months later at say 20K, would I need to pay short-term capital gains taxes on the profit (19K)? Or would I just need to report that and there be some special exemption since it was connected to family? br brIt sounds like I may just want to wait a full 365 days or 370 days to be on the safe side to sell the car That would put me at zero taxes under long-term capital gains, right?
Comment from : @yoda6051

HibrHow to deduct in my Tax return 14k cash transfer to brother from my business account brHe needs that money to home down payment purchase so igave this money as gift in 2023
Comment from : @raquelgarcia7261

IRS: Sir did you give your friend a Rolex after winning the lottery?brMe: I don't know what you're talkin about, must have fell of the back of a truck
Comment from : @SuperEman500

What about gifting stocks/crypto to non-US residents in other countries? When they sell it, they wont have any tax liability to the US I suppose
Comment from : @jeffreyd508

If an individual pays someone's debt directly to credit card loan companies as well as making a payment to their mortgage does that count as a gift as well? Or does it need to be reported if it goes over the annual limit?
Comment from : @carmenquevedo1888

My sister wants to gift me 800k to buy a house (as a gift) She lives in Europe and I'm from the US she is not American, she is European is everything good there? The money would come from Europe (Spain) to THe United States I guess to my account
Comment from : @georgecastanedo198

Who pays taxes on cash gifts? No one, it's cash, fuck the fed
Comment from : @michaelschmidt4767

If i make 100k and gift 15k am i taxed on 100k or 85k of income? Can't seem to get an answer I understand that the gift is not taxed
Comment from : @raymondjoseph7177

superb!
Comment from : @1samc

Great information Thank you
Comment from : @467Productions

Just wow!
Comment from : @darealmikeg

I pay my daughter's college tuition and show it on taxes Instead of paying her college tuition, if I hire her as an employee and pay her a salary, will I be paying more taxes?
Comment from : @nh6405

Very helpful thank you!!
Comment from : @resourcefulgirl

If I give my dad 70k as a gift for a down payment for a home, well I be taxed?
Comment from : @wongtong6315

at 2:35 do you mean the kid wouldn't owe any income tax (you said gift tax)? I just want to clarity because it's a little ambiguous does a gift over the 16,000 count as income?
Comment from : @caseykittel

Very nicely explained
Comment from : @mohamamdasif1087

Would allowing relatives to live in a rental for no payment be considered a gift under the IRS?
Comment from : @karenyoung5786

Hi can I Gift 15000 to my daughter she is 21 year old but she is studying in university she is dependent on us She is student visa we are in working visa
Comment from : @prathimadeshpande

If my parents give me $15,000 each a year I don't have to claim that as income on my taxes?
Comment from : @jimhandler1129

Does this also apply to Trusts? Can a Trust give away money in the same way or do different rules apply?
Comment from : @reverendblkgrape1

I'm dumb don't understand gift taxes Even if it's millions of dollars if it is money that was already taxed and paid why does handing someone money get taxed again if it's over a certain amount?
Comment from : @timtoolman9940

Great video, very informative!
Comment from : @emmanuellopez59

Can you gift stocks worth $15k to your children to deduct your capital gains tax? Also will the children pay zero capital gain tax to federal and state since they don’t work and the gift is under $40k?
Comment from : @hottoys634

You answered my question right away, thank you
Comment from : @eddieespinosa8743

Hello, if I gift 50k to brother this year, I have to fill tax form and do I have to pay tax for it? Thanks
Comment from : @julian5948

Hi if I give my son 100k at once this month but he pays me back 100k to my bank account before the end of the year Do either of us have to pay gift tax ? Please help 🙏🏻🙏🏻
Comment from : @JonM47

So is there tax on gifting a tax deferred annuity to oldest son? Donor is in mid 70s
Comment from : @Redrobinstreet

Nice video How do crypto gifts work?
Comment from : @sumsin9062

Excellent presentation
Comment from : @pauly4736

Thank you This video is very helpful
Comment from : @dragonfly3877

I am getting ready to gift $20,000 to my wife family in the Philippines they are very poor and lost there home in the last Typhoon am I going to pay tax on that
Comment from : @MrDavidsuits

Ive watched like 100 videos on gift tax and this is the only one that actually explained it well and without useless rambling
Comment from : @GovnaBuckingham

If I get a big cash gift, I will not claim it on my taxes! bF/b that !!!
Comment from : @OnePulsar

Very helpful I was trying to figure out a way to provide monthly parental support to my Dad without it being reportable on his taxes Thank you
Comment from : @candicanejane1146

How do you file this gift in your income tax? Will this reduce tax in regular income tax return?
Comment from : @glammav14344

If I take 15,000 out of my IRA to give to my son, am I taxed on that?
Comment from : @richstewart1

Does the individual receiving the gift pay income tax (federal or local) on the 15k gift?
Comment from : @ban1sh3d63

Thanks a lot for this amazing video I am a salaried employee My question is - If I gift 15K to my kids, will this bring down my taxable income?
Comment from : @jasper5016

You do when you pay income tax you pay tax on the money you in turn give to your kids in witch it gets taxed again you stupid humans the goverment is playing U
Comment from : @greyalien9074

Thank you for this!
Comment from : @nerullreaper292

Does a widow or widower get the married lifetime exclusion, for their estate
Comment from : @twintwo1429

Hi if both my wife and I give to two daughters 30k each per year do we get to deduct on our income tax? Thanks
Comment from : @micknguyen3

Excellent video! Thank you
Comment from : @CheJoffre

This is amazing information man! You're awesome! So are there any special forms you have to fill out or do you just write a check for 15k to the person? Do you have to write the word "Gift" on the check? So the person receiving the gift and the person giving the 15k gift doesn't owe any taxes?
Comment from : @robertamaral2349

Can I gift to a trust and get away without paying taxes?
Comment from : @mike-ej9hz

Child can be any age?
Comment from : @rinihaque2946

Why is the government always in your business
Comment from : @bjbanks1130

Does it lower my income that I claim for the tax year?
Comment from : @loreenkhan7312

Advanced Strategy sounds a lot better than Tax Loophole lol
Comment from : @deathdouspart0x

Thanks Michael!
Comment from : @SparkyChannel

Is it counted as earned income ? If I recieve cash from my parent
Comment from : @carmella88

Does it matter whether it is in check form, cash, apple pay, etc?
Comment from : @brittanyw9107

I’m looking for a Accountant to do my taxes with this wisdom can u recommend someone for me I live in Miami Florida thank you in advance
Comment from : @YanilleCastillo