Non-Charitable Gifts

In this video, Deanne Rosso, President & CEO of Elevate Wealth Advisory, is joined by Rob Fezekas, Director of Investment Policy, to explain the tax implications for both the giver and recipient of non-charitable gifts. Rob discusses how recipients generally don't owe taxes on gifts, but may face capital gains taxes if they sell appreciated assets. For givers, there’s an $18,000 annual gift exclusion per recipient ($36,000 for married couples), meaning most gifts fall below the taxable threshold. For larger gifts, Rob explains how the lifetime gift and estate tax exclusion of $13.6 million comes into play.

For more help integrating non-charitable gifts into your financial plan, visit elevate-wealth.com and let’s talk!

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