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 ?
"We know that in order to be a great gift company, you [must examine] the reason for giving gifts in the first place, the emotional attachment to gift-giving."
That's because, as every Brother I spoke with acknowledged, most women have the gift-giving thing down cold.
It's expected to be a slow season, as well, for client gift-giving. Recipient lists, as well as the price per gift, are likely to be smaller than in recent years.
Remind customers and prospects of the many people who could or should be on their gift-giving lists.
Hanawa made the comments a day after Nissan, the country's second biggest automaker, revealed that it has asked about 300 clients to refrain from gift-giving or entertaining its staff and that it has banned its executives from offering or taking gifts since February.
Under various guises Saint Nicholas was transformed into a similar benevolent, gift-giving figure in The Netherlands, Belgium, and other northern European countries.
Though so many Americans follow the same annual rituals of gift-giving, feasting, visiting, and decorating, these customs have seldom been studied.
Suggestions for gift-giving: A basket a little larger than the bread, lined with a large paper napkin.
The unit expressed its gratitude to the foundation in collaboration with the DepEd for the successful conduct of the gift-giving activity, which contributed to the sustainment of peace through the efforts of the different stakeholders in the province of Eastern Samar.
Officers and staff from 28 SM branches participated in the sharing and gift-giving in honor of SM founder, Henry 'Tatang' Sy Sr.
As shopping for gift items hits frenzy level as Christmas nears, the Quezon City-based group also pleaded the public "not to make the cheerful tradition of gift-giving a sad one for environment due to the thoughtless use and disposal of gift wrappers''.
" Media access to Catriona was tightly controlled, but she is set to give a press conference today at the Frontrow Cares: Christmas Charity for Kids with the Miss Universe Organization, which is also a gift-giving activity.