Tuesday, December 1, 2009
Many parents may be thinking as to what they should give their children as gifts this holiday season. Since home prices are down, this could be a terrific year to give a down payment or even the whole home. The internal revenue service says a married couple can each give gifts of $13,000 of money or property without triggering taxes for the gift givers or the recipients. That means a married couple can give another married couple a total of $52,000 a year. To maximize that they can give $52,000 in December and another $52,000 in January for a total of $104,000 to be used on a property before the federal tax credit expires.



1 Comments:
At December 2, 2009 4:35 AM,
Jenny said…
Practical idea! Thanks for sharing your insights. I wish you well in real estate business. Good luck.
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