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What Is the Maximum Amount That One Individual Can Give

question 53

Essay

What is the maximum amount that one individual can give another each year without paying a gift tax?


Definitions:

Saving

The portion of income not spent on current consumption but set aside for future use, often in forms like deposits in savings accounts or investments.

Exports

Goods or services produced in one country and sold to buyers in another, constituting a critical component of international trade.

Bond

A certificate of indebtedness

U.S. Company

A business or corporation that is registered and operates within the United States, abiding by its laws and regulations.

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