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6 Ways To Give Family And Friends Financial Aid

23 Dec

The simplest way to subsidize others is by using the annual exclusion, which allows you to give $13,000 in cash or other assets each year to each of as many individuals as you want. Spouses can combine their annual exclusions to give $26,000 to any person tax-free. For example, a married couple with a child who is married and has two children could make a joint cash gift of $26,000 to the adult child, the child’s spouse and each grandchild – four people – providing the family with $104,000 a year.

via 6 Ways To Give Family And Friends Financial Aid – Forbes.

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Posted by on December 23, 2011 in education, taxes, think

 

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