Is a Gift to a Former Employee Taxable?

Published Categorized as Articles, Houston, Tax

Our gift tax rules impose a tax on certain transfers. This gift tax is required given our income tax rules. Absent a gift tax, taxpayers could simply sidestep income taxes by making non-taxable gifts to everyone rather than paying for goods and services. So what happens when a business makes a gift? Does the recipient…Continue readingIs a Gift to a Former Employee Taxable?

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