As defined in classic philosophy, an axiom is a statement that is so evident or well-established, that it is accepted without controversy or question. As used in modern logic, an axiom is simply a premise or starting point for reasoning.
To set your mind at ease, first determine if youâve given any one child more than the limit for a calendar year. You can give a child up to $14,000 in a year before you have to file a gift tax return (in 2012, this amount was $13,000). If your child is married, you can also give up to $14,000 each to his or her spouse. If youâre married, you and your spouse can both make gifts, meaning the maximum gift one couple can gift another couple without filing a gift tax is $56,000. This amount is per calendar year, and does not roll over from year to year.
Gift Tax. Any amount you pay for mortgage payments for your parents is considered a gift by the IRS. Gifts are not considered taxable income to the recipient, and they are not tax-deductible by the giver.You are limited in the amount you can give to any one person during the year before you are obligated to pay federal gift tax.ny amount you pay for mortgage payments for your parents is considered a gift by the IRS. Gifts are not considered taxable income to the recipient, and they are not tax-deductible by the giver.