Giving money within a family is a common practice. The same applies to things like cars, apartments, or expensive electronics. In some cases, such gifts may be subject to gift tax. We explain how to avoid gift tax and what formalities must be met.
This story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.
Giving money within a family is a common practice. The same applies to things like cars, apartments, or expensive electronics. In some cases, such gifts may be subject to gift tax. We explain how to avoid gift tax and what formalities must be met.