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Strategies to avoid gift tax

What is the annual amount that a donor can give to a recipient each year and not have to file a gift tax return? If the donor gives more than this amount, is the donor required to pay a gift tax? Recommend a tax strategy, other than giving only the annual exclusion amount, to minimize the gift tax.

Solution Preview

For gifts on or after January 1, 2009, the annual exclusion is $13,000 (for each individual gift, can give many gift but must be to different people ...

Solution Summary

A few sentences describe the gift tax and two ideas to get around it are given.