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MOORE’S SERVICES is a full service Tax Preparation Company that provides year-round services. We specialize in both individual and business taxes. We also offer Notary Public Services. Come in and see us today.

Thursday, February 28, 2013

What can be excluded from gifts? ALABAMA'S #1 TAX SERVICE

The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts.
  1. Gifts that are not more than the annual exclusion for the calendar year.
  2. Tuition or medical expenses you pay for someone (the educational and medical exclusions).
  3. Gifts to your spouse.
  4. Gifts to a political organization for its use.
In addition to this, gifts to qualifying charities are deductible from the value of the gift(s) made.




MOORE'S SERVICE, LLC
2160 Green Springs Hwy, S. Suite E. 
Brimingham, AL 35205
&
708 8TH Ave. N. (Rev. Abraham Woods Blvd.) 
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