Gifting To Children and Grandchildren - How Much before Tax Is Due?
http://www.youtube.com/watch?v=hzaPPP31B
Estate planning and executor lawyer David M Frees III briefs us on gift taxes. Pennsylvania residents have no state level gift tax. However, they are subject to the Internal Revenue Code rule on gifting. Each person can gift up to $13,000.oo each year (the annual gift tax exclusion) This number is doubled for maried couples.