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 IRS considers a gift to be a transfer of funds to an individual where full compensation is not received in return. As such, the gift can be subject to tax. Anyone could give a tax-free gift of up to $13,000 for the 2012 tax year without triggering a gift tax.That means each parent can gift you $13,000 each year, or $26,000 maximum, without tax implications.s such, the gift can be subject to tax. Anyone could give a tax-free gift of up to $13,000 for the 2012 tax year without triggering a gift tax.