"Many families are uninformed about the cost of attending college," claims a recent study by the National Center for Education Statistics, part of the U.S. Department of Education's research division. Only 11% of high school freshmen could accurately estimate the cost of college tuition in their state. Of those that gave the wrong answer, 57% overestimated the cost, and 32% underestimated … [Read more...] about Sticker Shock: How Much Does a College Degree Cost?
Most gifts of money or valuable assets to another are considered by the IRS to be taxable to the person making the gift. Exceptions Under current IRS rules there are four ways to make tax free gifts that are not taxable to the person making the gift: Annual gifts capped at $14,000 (indexed for inflation) Lifetime gift exclusion ($5.45 million in 2016 indexed for inflation) Payments … [Read more...] about How to Make Tax Free Gifts