I currently live in Sioux Falls and would like to make gifts to my grandchildren in Canton. What is the annual gifting exclusion for 2013?

For clients with an eye on reducing taxes, there are certain gifting vehicles that make it possible to pass assets to the next generation, tax free.  

In 2013, the annual gifting exclusion is $14,000.00.  This means that you can gift $14,000 per individual (or $28,000 for a married couple) to as many individuals as you would like, without impacting your lifetime exemption.

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