by Steve King | Jan 21, 2022 | Did you know?, gifting
In most cases, you don’t have to pay taxes when you receive a gift. In Washington, when you receive a gift, the person who gave you the gift pays the taxes (I talked about the taxes that the gift giver may have to pay in my January 4th post). The one exception is...
by Steve King | Jan 4, 2022 | Did you know?, gifting
Many people think that if you make a gift larger than $16,000 (prior to 2022, this amount was $15,000), you have to pay taxes on that gift, but for most people the answer is that you don’t owe any taxes. Under current federal law, a person can make up to $12.06...
