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

Do parents have any contorl over what there child buy if the didnt give you money to buy it?

YES you are their child and their responsiblity and they dont want u spending ur money on STUFF that u dont need coz rthen when you grow up you wont have the money you need"they are only trying to ... Read More »

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?

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 »