From the gift tax Tag

When Can You Not Take a Mortgage Interest Deduction?

When the federal tax code was written in 1913, all interest was deductible, but at that time very few Americans outside of farmers had home mortgages. In 1986, when Congress overhauled the tax code, […]

What’s the Difference Between the Annual Gift Tax Exclusion and the Lifetime Gift Tax Exemption?

It’s the holiday season, the time for gift giving. It may also be the time to ask yourself, are you fully informed as to what can you gift to friends and family without a […]