Gift

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Gift

An asset of any kind that an individual transfers to another individual while neither receiving nor expecting anything in return. A gift one receives is taxable in the United States, but only if its value exceeds $13,000 (in 2009) and is not specifically excluded. For example, gifts between spouses are not taxable under any circumstances. See also: Estate, Gift Tax.

Gift

A transfer of property from one person or entity to another without consideration or compensation. For income tax purposes, the words "gift" and "contribution" usually have separate meanings, the latter word being used in connection with contributions to charitable, religious, etc., organizations, whereas the word "gift" refers to transfers of money or property to individuals.
References in periodicals archive ?
This perspective leads empiricists to the safe conclusion that Christmas, and a spurt in gift exchanges, is caused by a prior increase in the money supply and, ceteris paribus, a drop in savings.
Carrier contrasts the freedom of buying and selling commodities in the commercial sphere, where obligation is discharged by payment, with gift exchange, where accepting a gift reifies a relation and perpetuates gift exchange.
Although many of their texts depict marginalized figures excluded from the national portrait of domestic tranquillity, I argue that their focus on the loss of empathetic gifts and neighborly generosity is particularly apt in their depictions of Christmas, a holiday that by the late nineteenth century had already become synonymous with gift exchange.
Gift exchange is therefore ontological, dynamic, relational, and involves collectivities, not just individuals (Moore, 2011).
At the level of institutions, systems organized through gift exchange contrast with the prospect of a system organized as a market.
In contrast, the gift exchange model (GEM) is based on the critical assumption that reciprocal behaviour creates a positive relationship between wages and workers' effort levels [Akerlof (1982, 1984)].
The complicated entwinement of gift exchange with personal relationships and the obligations they entail is given a thorough workout in Shaw's scheme.
Our branch's December luncheon with a gift exchange is becoming an annual event and was well attended.
The rules of hospitality to which relations between the narrator and don Jose conform may be understood according to the rules of reciprocity and gift exchange that Marcel Mauss theorized in 1925, eighty years after Merimee wrote Carmen.
Alison Scott's informative study of the paradoxical nature of gift exchange and the quest for patronage in early modern England emphasizes the complex economy involving emerging market forces, established conventions of court culture, and a universal understanding of gift giving as an integral component of a civil society.
Jonson is shown as revelling in the moral complexities of the system of literary gift exchange.
There will be a potluck luncheon party and $10 gift exchange at the executive board meeting on Dec.