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    Description and Reasons for Gift Tax

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    What is gift tax and why do we have it? Should we have gift tax?

    © BrainMass Inc. brainmass.com October 10, 2019, 7:37 am ad1c9bdddf
    https://brainmass.com/business/accounting/description-and-reasons-for-gift-tax-588944

    Solution Preview

    The gift tax is a tax that goes into effect when something is sold it given away and the tax occurs on the item or ...

    Solution Summary

    A detailed and specific explanation of gift tax is provided along with the reasons for it.

    $2.19