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.
by FreeAdvice staff. You can give gifts of $14,000 (referred to as the annual gift tax exclusion) or less per calendar year to each of as many indivduals as you want without filing a gift tax return. Unlimited gifts can be made to a spouse without gift tax consequences.The annual Gift Tax exclusion is indexed annually, which means that you can gift larger amounts in your life without Gift Tax concerns. Gifts over $14,000 are considered taxable gifts and must be reported on an annual gift tax return, Form 709.Though you must file, you do not have to worry about paying the federal Gift Tax because you can offset the tax by using the unified gift and estate tax exemption.ifts over $14,000 are considered taxable gifts and must be reported on an annual gift tax return, Form 709. Though you must file, you do not have to worry about paying the federal Gift Tax because you can offset the tax by using the unified gift and estate tax exemption.