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Gifting appreciated stock to child
One caveat: Make sure the gift doesnt cost you your ability to claim the child as a dependent, which would happen if his total earnings (including capital gains) became so high that he would be providing more than 50 of his own support.
Currently for 2016, the annual gift excluded from estate considerations is 14,000.When gifts of an appreciated asset are involved, the recipients holding period includes time in which the donor owned the property.So when he sells the shares to pay tuition or other bills, the 18,000 in capital gains will be taxed at his significantly lower rate.If you were planning to shift some money your childrens way anyway, this can be a great way to take care of them while also avoiding a hefty tax.While those in the lower brackets may be able to realize capital gains at a 0 federal tax rate, they will still likely be subject to.75 state tax rate for any income or capital gains over 17,000.In addition to reducing future tax liabilities from capital gains, lotus products online discount one can also increase the current basis in the portfolio by replenishing the donated position with new cash to invest that they otherwise would have donated.By the way, this strategy also takes advantage of the federal gift tax.Transferring an Electronic Certificate.However, there is a way to legally cut that tax bill to the bone.Well, if we assume that the child is in the lowest tax bracket, the tax bill under the new tax law would be a paltry 900 (18,000 x 5).
This week, I want to share another tax-saving strategy from Stephen.
Additionally, you have state tax treatment of capital gains to add into the tax burden.Instead, the transfer will be automated, which means taking your child's information to your broker, who will make sure the transfer goes smoothly.You can include it in your will among the assets roko gym discount passed onto your children.Meredith, CPA, the owner of a private accounting firm that focuses on creating and implementing wealth-building strategies for business owners, investors, and real-estate professionals.More winning powerball ticket sold in what state than enough to make the transaction worthwhile.
Given the run up in both stocks and bonds this year, this could be an excellent opportunity to take advantage of this tax-savings strategy.