A gift letter for a mortgage verifies the source of a homebuyer’s gifted down payment funds. The gift letter proves that the funds are in fact a gift and don’t have to be repaid, and that the giver ...

A while ago I wrote about a financial gift that my parents made to my husband and me shortly after our marriage. While it ...

In his budget presentation in Springfield today, the governor lays out an improved economic forecast that staves off major ...

Foreigners working in Vietnam are required to participate in the compulsory social insurance (SI) program and health ...

Federal gift taxes will be due, however, if you give $19,000 or more in 2025 to any one beneficiary, or $38,000 for clients who file jointly. (Alternatively, clients can give a lump sum of up to ...

While the Washington, DC-based Tax Foundation estimates that the tariffs will generate around $100 billion per year in extra federal tax revenue, they could also impose significant costs on the ...

For federal estate and gift tax purposes, transfers are valued at the “fair market value” of the asset on the date of transfer. One of the more ...

Gifting company shares with the potential to grow significantly in value can make a nice present, though it’s worth bearing in mind that this generous act may be subject to gift tax and result ...

The Trump administration’s many attempts over the past couple of weeks to halt federal spending have met mostly with approval from Republicans on Capitol Hill and outrage from Democrats.

If you're thinking that you can keep your tip income under the table, think again. If the IRS catches you withholding tips from your tax return, you'll be hit with a penalty requiring you to pay ...

An angry middle class, a slowing economy and an election setback finally led to an income tax bazooka from Finance Minister Nirmala Sitharaman, a move economists and policymakers strongly argued ...

In this four-part series, we use charts to illustrate how the Budget performed on 15 key concerns. This part looks at income tax receipts, tourism, and the securities transaction tax. Each topic ...