Form 709, is required to be filed if a gift is made to someone for more than $13,000 in one year.  Gifts between spouses are not required to file.  Gifts can be made to an unlimited number of people in a year provided they are below the $13,000 per person annual exclusion. more…

According to the College Board, the average cost of tuition at a public school increased by 6.5% last year.  The average increase in tuition at a private school was 4.4%.  This put the average cost of tuition, room and board, and fees at $15,213 for the public school and $35,636 for private school.   more…

The book is closed on 2009.  The year 2010 begins with optimism and too many New Year's resolutions.  Sales of gym memberships, diet schemes, and how-to-quit-smoking plans peak at this time of year. more…

Individuals may give up to $13,000 per year to an unlimited number of people.  This is known as the annual exclusion.  more…

Year-end tax planning could be especially productive this year because timely action can nail down a host of tax breaks that won't be around next year unless Congress acts to extend them. more…