Planning on gifting a friend or family member with a sum of cash? What about paying for someone else's college tuition? Did you know that it has taxable consequences? What about that large gift to your favorite charity? If you fail to recognize the potential tax consequences of your gift, the person or the charity that you chose to benefit could face a massive tax liability, all but reversing the idea that you had in the first place!
Our attorneys are trained and knowledgeable in the potential ramifications and the legal loopholes for gift and charitable exchanges. Let us help avoid the tax consequences of your gift.