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.
In other words, if you aren't paid back, at least not fully, it's a gift. In 2015, you can give a lifetime total of $5.43 million in taxable gifts (that exceed the annual tax-free limit) without triggering the gift tax. Beyond the $5.43 million level, you would actually have to pay the gift tax.