title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Saturday, March 22, 2008
 
Annual Gift Exclusion


Q:



Subject: Tax Free Gift



The maximum tax free gift for 2007 was $12,000 per individual. Is this the same for 2008?

 

Thank You.

 


A:



 Yes it is.

By law, this figure is only allowed to be increased in even $1,000 increments; so it takes a number of years' worth of cumulative inflation before it is bumped up.

Kerry Kerstetter


 


 

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