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 ?
The islanders also had special rules for gift-giving small luxuries.
Here are a few strategies to consider in developing or updating your organization's gift-giving compliance programs in Brazil, when recipients are government employees or agencies:
Gift Toad's team of editors provides helpful comments on select items as well as gift-giving advice.
The purpose of this article is to explore ethical and therapeutic issues that are relevant in client gift-giving situations.
25) In mass-consumption societies, where the commercialized gift could have nothing to do with the giver, merely an ano nymous and fleeting moment of purchase, the polarities in gift-giving changed.
Tips for simplifying the holidays, alternative gift-giving and alternative Christmas carols.
The new ads connote Lenox as a premium, prestige gift brand, one appropriate for weddings, holidays and any other gift-giving occasion.
Davis Wright Tremaine, a Portland law firm, has a creative approach to gift-giving that could result in more bang for the buck.
The objective is to promote your year-round gift-giving services to both individual and business customers.
Some of our employees pointed out they don't know the borderline when it comes to everyday entertainment and gift-giving,'' Yoshikazu Hanawa told a news conference in Tomioka, Gunma Prefecture.
All three gift-giving options pay especially handsomely for those with appreciated property that doesn't produce much income.
4) In fact, this Renaissance ideal of disinterested gift-giving may have been more honored in the breach.