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.
For the 2011 tax year, the exclusion on individual gifts was $13,000 for single filers and $26,000 for couples. This means you can gift up to the exclusion limit to as many people as you want in a single year and not incur any gift tax.or example, if you give someone a gift of $20,000, the first $13,000 is not taxable. The remaining $7,000 is considered to be taxable, but the tax only applies if your total gifts exceed the lifetime limit.