Wednesday, September 22, 2010

Dad's Divorce: gift tax

Dan Danford regularly provides commentary for Dad's, a web site for men going through the divorce process. In this week's edition of Money Made Easy, Dan answers this financial question from a viewer: What is the most amount you can give/receive in a year as a gift without it being taxed? I stand to inherit a $15,000 gift this year. Can it be taxed?

Danford, MBA, CRSP of Family Investment Center, explains how the gift tax works and what exemptions apply.

Listen to the podcast for all your personal financial help.

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