How much money can i give my child tax-free?

Answer You can give your child up to $13,000 tax-free as of 2009. If you are married, both you and your spouse are entitled to separately give $13,000 to your child. Gifting money reduces taxable income, ... Read More »

Top Q&A For: How much money can i give my child tax-free

How much money can you give your children as a gift each year tax free?

What is considered a gift? Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money's worth) is not received in return. What can be exclude... Read More »

Hypothetical Parenting Dilemma: How much money would it take to get you to give your child a really awful name?

How are game shows able to give away so much money and all those prizes. where does it all come from. with so many poor people on earth why are only people who have money able to win more money?

For prizes, sponsors pay the game show to plug the prizes on air, as a form of advertisement. In terms of a budget, prizes are essentially free, which is why they were used so often up through the ... Read More »

What happens if father pay child support and the mother doesn't give the children the money?

In that exact scenario, nothing at all. 'Child Support' is to help pay for the child's expenses, such as food, clothing, education, etc. It is not intended nor expected to be the child's 'spending ... Read More »