Gift Tax Explained - Do You Pay Taxes On Gifted Money?

In this video, I explain what gift tax is all about. Do you need to pay taxes when you receive a gift? Do you need to pay taxes with giving a gift? Those are both important questions I answer in this video. Also, how does estate tax work? That's related too!

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This video is for entertainment purposes only. The information portrayed in this video should not be considered as tax or legal advice. Consult with your own tax professional and attorney to get proper advice for yourself.