Gift Tax 2022 Explained! (DO YOU OWE TAXES ON YOUR DAD’S GIFT?)

GIFT TAX 2022 EXPLAINED! (DO YOU OWE TAXES ON YOUR DAD’S GIFT?) | Did you just receive money as a gift from your parents? Or maybe your grandma gave you $20,000 to help pay for your house down payment? You’re probably feeling lucky but you’re also wondering, do you have to pay taxes on this gift? In this video, we cover gift tax in detail.

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Skip Ahead Here!
0:00 - Gift Tax 2022 Explained!
0:47 - What is a gift tax?
0:58 - Who has to pay a gift tax?
1:30 - Gift tax rules for 2022
3:28 - Do you have to pay taxes on money you received as a gift?
4:05 - How can you avoid paying taxes on gifts?

**RECOMMENDED READING LIST**
The One-Page Financial Plan by Carl Richards (easy read, holistic + fun graphics!) https://amzn.to/35NH54Z

Simple, Smart Investing by Ian Kennedy (can help you construct your investment portfolio)
https://amzn.to/32GRJbJ

A Random Walk Down Wall Street by Burton G. Malkiel (classic book that sold me on index funds) https://amzn.to/2H7pbzS

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Alvin Carlos is a CFP® professional and CFA® charterholder. His team helps professionals in their 30s and 40s to be smarter with their money. They help them optimize their investments, lower taxes, pay off debt, and have peace of mind.

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