Did you give a large gift to someone last year? Have you completed Form 709, U.S. Gift Tax Return? Did you know that the due date is on the same day as the Individual Income Tax Return? Wayne B. Bachman, CPA and Tax Manager at Akin, Doherty, Klein & Feuge, P.C. (ADKF), wrote an article that was featured in the Boerne Business Monthly. Wayne discusses various forms of gifting and general taxation. A few of the topics include exclusions, control and property valuation, gift taxation and donee’s basis and gain or loss.
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