Senior Tax Planning

How much can seniors give away each year without paying gift taxes?

Seniors can give up to $19,000 per person per year without triggering gift taxes or using their lifetime exemption. This means a married couple can give $19,000 each to the same person, totaling twice that amount annually. These gifts can help reduce the size of your taxable estate while supporting family members during your lifetime. The annual exclusion amount is adjusted periodically for inflation.