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.
The Gift Tax. The maximum amount of cash you can give away tax-free may change from year to year. Start by consulting the IRS or its website to find out what the cap is for a given year. In 2011, for example, tax-free gifts were capped at $13,000. You may give money to your spouse that exceeds the cap without incurring the gift tax.