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Aging Care: 6 Tips for Caring for Elderly Parents
Many adult children wonder what their aging parents may need and how can they can help provide it for them. You may constantly worry about your parents or other older loved ones, especially if you live far away from them. You can, however, take some simple...
Will You Owe a Gift Tax This Year?
The rules surrounding taxes on gifts often create confusion during tax season or any other time. Below are some of the nuts and bolts of the gift tax, including when a gift tax form needs to be filed. What Is the 2022 Gift Tax Exclusion? The annual gift tax exclusion...
Giving Your Home to Your Children Can Have Tax Consequences
While it is possible to do this, giving away a house can have major tax consequences, among other results. You May Not Have to Pay a Gift Tax ... When you give anyone property valued at more than $16,000 in any one year, you have to file a gift tax form. Also, under...