The Southeastern Conference (SEC) is an American college athletic conference whose member institutions are located primarily in the Southern part of the United States. Its fourteen members include the flagship public universities of eleven states, two additional public land grant universities, and one private research university.
In that case, according to todayâs announcement, the yearly limit on tax-free gifts to him or her next year is $147,000, up from $145,000 for 2014. Additional gifts to a non-citizen spouse count against your $5.43 million basic exclusion.
Gift tax doesn't apply to little things like holiday presents and birthday gifts. In IRS terms, it applies to the $26,000 a couple can give away in one year without tax consequences. For singles, the cap is $13,000.If you give more than that amount, the excess gets subtracted from a lifetime unified credit of $5.12 million. Future gifts in excess of your cap are subject to gift tax.If you've never used your unified credit, you can give up to the cap, plus $5.12 million to a single recipient before triggering the gift tax.or singles, the cap is $13,000. If you give more than that amount, the excess gets subtracted from a lifetime unified credit of $5.12 million. Future gifts in excess of your cap are subject to gift tax.