Business
Whether you are nearing retirement or already in it, you may be ready to gift some of your money to future heirs even before you die. What kind of taxable event does giving a financial gift cause? Show Notes and Additional Resources: https://coveryourassetskc.com/episode-56-understanding-the-gift-tax/ Today's Rundown: 1:31 - Debunking the estate tax problem. 4:35 - What gift amount creates a taxable amount? 7:26 - How does a gift now impact your estate tax later? 9:13 - Does anything with the gift tax change when contributing to a 529, say for grandkids? 11:39 - Two gifts that avoid the gift tax and do some good.