Abraham Lincoln found himself at the head of a government that was divided amongst itself on how to proceed, given that the southern half of the country was teetering on the edge of secession.
I've noticed that employees don't contribute much when the envelope makes its rounds. I'd say their contributions average $3 per person, tops. I don't want to appear cheap to our boss presenting him with a departmental retirement gift of less than $200 (there is 60 people in the department). I want to ask the staff to increase their contribution to $30 per person, so we can give my boss an $1800 gift.
If you are interested in giving large gifts to family members or friends, it is important to know how much you can give without incurring a tax penalty. In 2017, the limit one person can give another person, also called the annual gift exclusion, is $14,000. If you want to give money to a child or grandchild and you are married, each spouse can give a gift of $14,000 for a total of $28,000.