Monday, February 14, 2011

Valentine's Day and the Gift Tax

Chances are Uncle Sam is not going to want a piece of your valentine today, according to IRS Spokesperson Sue Hales.

Hales tells KLKS News, there is a gift tax exclusion of $13 thousand for each person who receives the gift.  And, she says the person who gives the gift is most often responsible for any tax.  So, a bouquet of flowers is not going to get any interest from the government, but a Porche probably will.

AddThis Social Bookmark Button

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home

Subscribe to
Posts [Atom]

Powered by Blogger

 

Home | Schedule | News | Weather | Streaming | Contests | Home Shopping | Obits | Trips | Events | Service

Advertise with Us | About | Contact | Directions | FAQ | Site Map | Links | EEO

Copyright 2007 KLKS. All rights reserved.

Explore Brainerd Lakes

Site Meter