Gift Tax - Who Pays it & When

Have you ever wondered what is the difference between an estate tax and a gift tax? Joe Ranni, Esq. of Ranni Law Firm PLLC gives you answers to many questions including: Do you have to pay taxes on a gift? How much money can a person receive as a gift without being taxed? How much can you gift tax free? Is there a way to legally avoid gift tax? How much can you gift someone tax free? Does it matter if it’s given to relatives compared to friends? How does it affect Medicaid? Are there any penalties to giving away your money before expiring? Are there exceptions to the gift tax rule? Can an attorney protect me by creating a trust or will? 

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