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.
We are not sure how much money we can give them without having to pay tax fees. In 2013 the IRS gift tax exclusion is $14,000 per donor per recipient. So effectively, married couples can â together â provide cash gifts of up to $28,000 per recipient without triggering a gift tax.So in your case, you and your spouse can give a combined gift of up to $56,000 this year to your son and future daughter-in-law ($28,000 to each).ou have to state by how much you gifted beyond the exemption and subtract that amount from your lifetime exemption of $5.25 million. This doesnât mean youâll owe any money right now. If in your lifetime you give away more than $5.25 million youâll be subject to a federal gift tax, currently 40%.