Well, let’s define what “Gift” means to the IRS: “Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return.”
To break that down, a gift is something of value (cars, land, money) given to a specific individual without expectation of repayment, (meaning you aren’t going to get anything of equal value from the person you give to).
Another important point you should know: there is a maximum amount you may give to an individual in a calendar year before taxes come into play and the IRS gets involved.
Currently, for 2026 that amount is $19,000 from one individual (you) to another individual. As an example, this year you could give $19,000 to your child, their spouse, and each of their children. Your spouse could do the same.
Giving to others is a noble thing, but it can sometimes have unintended consequences such as:
- A tax that you might not expect to pay.
- An IRS audit for you or a loved one.
- Your incredible action being posted on Facebook®, which may lead to others asking for “gifts.”
Fortunately, there is a way to be a big gift giver without having to answer to Uncle Sam. Feel free to give us a call and we can talk about a gifting strategy that works for you.
Read about Tax Planning by Feliciano Financial in Tyler, Texas.
At Feliciano Financial, our mission is straightforward: help families organize their financial lives, simplify complexity, clarify available options, and coordinate smart decisions.
Because a financial house, much like a physical one, performs best when it is regularly maintained, reviewed, and cared for over time.
When you are ready, schedule your discovery call at 903-533-8585 to begin YOUR Feliciano Financial Blueprint.
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This content is for educational purposes only and does not constitute legal advice. Please consult a qualified attorney for legal recommendations. Tax and legal services are not offered by Integrity Alliance, LLC. Securities and investment advisory services offered through Integrity Alliance, LLC, Member SIPC. Integrity Wealth is a marketing name for Integrity Alliance, LLC. Feliciano Financial is not affiliated with Integrity Wealth.
