This is the first 1,000 characters of 478 words (1.91 pages) in the essay titled Gift Tax
One of the taxes that we went over in class was
gift taxes. This is a tax that is implied when
property, personal items, or money with a value of over
10,000 dollars is given from one person to another.
There are a few exceptions to this law such as giving to
non-prophit organizations or the donation is going
towards an education or tuition. I feel that this is a
good tax to have because it will keep greedy people from
transferring their money around to evade paying taxes on
Gift tax is will make sure that all citizens pay
their fair amount of taxes which is decided by their
income. This tax is collected and responsible to the
donor. This person must file a gift - tax return with
the Internal Revenue Service. There are little ways to
extend the amount of a gift given but there is no way
around the tax that there is to be paid. One of the
tricks is to have a man and his wife donate because any
gift coming from a ...
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