When do I need to report gifts made to a family member or others?

Gifts are completed cash transfers or other property from one person to another. Gifts include cash, transactions, real estate, vehicles, life insurance cash value, debt forgiveness, financial securities, crypto assets, and virtually any other property of value at the time of the gift. For tax purposes, the gift amount is the item’s fair market value […]

Unlock Your Business Potential

Dive into “10 Mistakes that Increase Your Risk of a Tax Audit” and discover actionable strategies to enhance your cash flow and elevate your business.