Hi guys, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com
If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Planning and doing your gift-giving before year-end is especially smart if you are giving real estate property. You will then remove more income from your 2015 tax return. The annual tax-free limit for 2015 gifts is $14,000 to as many individuals as you like.
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Until then, this is Noel Dalmacio, your ultimate CPA at lowermytaxnow.com