When You Make Cash Gifts To Your Children, Who Pays The Tax?

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Information When You Make Cash Gifts To Your Children, Who Pays The Tax?

Title	:	When You Make Cash Gifts To Your Children, Who Pays The Tax?
Lasting	:	8.27
Date of publication	:
Views	:	36 rb

Who pays taxes on cash gifts? No one, it's cash, fuck the fed
Comment from : MICHAEL SCHMIDT

If i make 100k and gift 15k am i taxed on 100k or 85k of income? Can't seem to get an answer I understand that the gift is not taxed
Comment from : Raymond Joseph

This IDIOT WASTES HUGE amounts if time telling us what he’s GOING to talk about DOPE!!!
Comment from : R Voit

superb!
Comment from : Sam C

Cool So if anyone out there wants to give me 15k, please let me know, I could certainly use it, its tax free!!!
Comment from : Tom Gilligan

Great information Thank you
Comment from : 467 Productions

Just wow!
Comment from : darealmikeg

I pay my daughter's college tuition and show it on taxes Instead of paying her college tuition, if I hire her as an employee and pay her a salary, will I be paying more taxes?
Comment from : N H

Very helpful thank you!!
Comment from : resourcefulgirl

If I give my dad 70k as a gift for a down payment for a home, well I be taxed?
Comment from : Wong Tong

at 2:35 do you mean the kid wouldn't owe any income tax (you said gift tax)? I just want to clarity because it's a little ambiguous does a gift over the 16,000 count as income?
Comment from : Casey Kittel

Very nicely explained
Comment from : Mohamamd Asif

Would allowing relatives to live in a rental for no payment be considered a gift under the IRS?
Comment from : Karen Young

Hi can I Gift 15000 to my daughter she is 21 year old but she is studying in university she is dependent on us She is student visa we are in working visa
Comment from : prathima deshpande

If my parents give me $15,000 each a year I don't have to claim that as income on my taxes?
Comment from : Jim Handler

Does this also apply to Trusts? Can a Trust give away money in the same way or do different rules apply?
Comment from : Edwin Hernandez

I'm dumb don't understand gift taxes Even if it's millions of dollars if it is money that was already taxed and paid why does handing someone money get taxed again if it's over a certain amount?
Comment from : Tim Toolman

Great video, very informative!
Comment from : Emmanuel Lopez

Can you gift stocks worth $15k to your children to deduct your capital gains tax? Also will the children pay zero capital gain tax to federal and state since they don’t work and the gift is under $40k?
Comment from : Hot toys

You answered my question right away, thank you
Comment from : Eddie Espinosa

Hello, if I gift 50k to brother this year, I have to fill tax form and do I have to pay tax for it? Thanks
Comment from : Julia N

Hi if I give my son 100k at once this month but he pays me back 100k to my bank account before the end of the year Do either of us have to pay gift tax ? Please help 🙏🏻🙏🏻
Comment from : Jon M

So is there tax on gifting a tax deferred annuity to oldest son? Donor is in mid 70s
Comment from : Rick Austin

Nice video How do crypto gifts work?
Comment from : Sum Sin

Excellent presentation
Comment from : Paul Y

Thank you This video is very helpful
Comment from : Dragonfly

I am getting ready to gift $20,000 to my wife family in the Philippines they are very poor and lost there home in the last Typhoon am I going to pay tax on that
Comment from : David Suits

Ive watched like 100 videos on gift tax and this is the only one that actually explained it well and without useless rambling
Comment from : The_Reginald

So just to be clear, if I were to give my grandson 53K all at once, neither of us have to pay any tax whatsoever I just have to file the form that says I have it to him and it subtracts from my 12 million exclusion?
Comment from : That guy

Where's the gifting cash coming from? Money I've already paid tax on? Pre-tax IRA withdrawl?
Comment from : RG

If I get a big cash gift, I will not claim it on my taxes! bF/b that !!!
Comment from : OnePulsar

Very helpful I was trying to figure out a way to provide monthly parental support to my Dad without it being reportable on his taxes Thank you
Comment from : CandiCane Jane

How do you file this gift in your income tax? Will this reduce tax in regular income tax return?
Comment from : Glamma V

If I take 15,000 out of my IRA to give to my son, am I taxed on that?
Comment from : Richard Stewart

Does the individual receiving the gift pay income tax (federal or local) on the 15k gift?
Comment from : BAN1SH3D

Thanks a lot for this amazing video I am a salaried employee My question is - If I gift 15K to my kids, will this bring down my taxable income?
Comment from : Jasper

You do when you pay income tax you pay tax on the money you in turn give to your kids in witch it gets taxed again you stupid humans the goverment is playing U
Comment from : GREY ALIEN

Where do deduction annual exclusion?
Comment from : m m

Thank you for this!
Comment from : Nerull Reaper

Does a widow or widower get the married lifetime exclusion, for their estate
Comment from : twintwo

Hi if both my wife and I give to two daughters 30k each per year do we get to deduct on our income tax? Thanks
Comment from :

I find this so interesting brbrIf my parents gift me over $15 in a year, but they fail to file taxes, how do I explain to the IRS where that money came from?brbrAlso, can I deposit $30k cash into my bank account and say it was gifted from my parents? Don't you have to explain where that money came from?
Comment from : DJ Joe Khoury

Excellent video! Thank you
Comment from : Che, Capo

This is amazing information man! You're awesome! So are there any special forms you have to fill out or do you just write a check for 15k to the person? Do you have to write the word "Gift" on the check? So the person receiving the gift and the person giving the 15k gift doesn't owe any taxes?
Comment from : Robert Amaral

Can I gift to a trust and get away without paying taxes?
Comment from : mike

Child can be any age?
Comment from : Rini Haque

Why is the government always in your business
Comment from : Beach Bum TV

Does it lower my income that I claim for the tax year?
Comment from : Loreen Khan

Advanced Strategy sounds a lot better than Tax Loophole lol
Comment from : BurnYourBridges

Thanks Michael!
Comment from : Sparky Channel

Is it counted as earned income ? If I recieve cash from my parent
Comment from : Carmella L

Does it matter whether it is in check form, cash, apple pay, etc?
Comment from : Brittany Wilkerson

I’m looking for a Accountant to do my taxes with this wisdom can u recommend someone for me I live in Miami Florida thank you in advance
Comment from : Yanille Castillo