When Does a Gift Trigger a Tax Bill? (@kerenzulli @MONEY)

If you're giving people in your life money, check and make sure you can legally do it tax free -- if at first it seems you cant, you may not be out of luck -- Kerri Anne Renzulli has some advice for you:

Full article at Money Magazine

"Every year, you’re allowed to give another person up to the annual gift tax exclusion—this year $14,000—without reporting the transfer to the IRS or having to pay taxes on the sum, says CPA Cari Weston, senior technical manager of the American Institute of CPAs taxation division."



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