5 myths about giving away money1 of 6It's the one-size-fits-all gift that always fits: money.Who doesn't want to receive a generous gift from a rich relative? And who doesn't daydream about winning the lottery and sharing the bounty with a few friends or family members?For wealthy individuals, gifting is a tool used to pass along their affluence without incurring hefty estate taxes. Plus, they can actually watch their loved ones enjoy it.But gifting has spawned a handful of pervasive money myths. Experts share the top five. Related Articles:Estate and gift tax amountsHigh school grad giftsGifts to charity pay offCheck taxes in your stateRelated Links:Retirement tax havensCapital gains tax ratesInvestment cost basisOffbeat charitable tax breaks advertisement
It's the one-size-fits-all gift that always fits: money.
Who doesn't want to receive a generous gift from a rich relative? And who doesn't daydream about winning the lottery and sharing the bounty with a few friends or family members?
For wealthy individuals, gifting is a tool used to pass along their affluence without incurring hefty estate taxes. Plus, they can actually watch their loved ones enjoy it.
But gifting has spawned a handful of pervasive money myths. Experts share the top five.
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