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.
All individuals have the opportunity to give gifts annually to any person without having to file a gift tax return. For 2012, the amount of the annual exclusion is $13,000.This means that anyone can give a gift of up to $13,000 to any person for any reason without worrying about possible gift tax implications. A married couple can double this amount to $26,000.In 2013, this annual exclusion amount will increase to $14,000 ($28,000 for couples).or amounts given in excess of the annual exclusion amount, every individual has a lifetime exclusion amount, against which the excess gifts are credited. For 2012, the lifetime exclusion amount is $5,120,000.