This form is a sample letter in Word format covering the subject matter of the title of the form.
This form is a sample letter in Word format covering the subject matter of the title of the form.
The annual gift exclusion allows you to gift up to $18,000 per recipient without triggering taxes, and this amount doubles if you're married. Additionally, the unlimited marital gift exemption ensures that gifts between spouses are not subject to gift tax, regardless of the amount.
Essentially, gifts are neither taxable nor deductible on your tax return. Also, a monetary gift has to be substantial for IRS purposes — In order for the giver of the sum to be subject to tax ramifications, the gift must be greater than the annual gift tax exclusion amount.
While New York does not impose a gift tax, any gifts made within three years of a resident's death are factored in when determining potential estate taxes. The annual exclusion amount also increased from $17,000 to $18,000 starting January 1, 2024.
Door staff: No need to tip for someone opening the door. But if the door staff calls you a cab, offers you an umbrella or helps with your bags, consider a $2 to $5 tip. Front desk/Concierge: At the bare minimum, be polite and patient when checking in to a hotel, says Dasmann.
Doorman, concierge: $75 to $200. Porter, handyman, and other maintenance staff: $25 to $50. Garage attendant: $25 to $75.
2) again, it varies on your building and what your building employees have come to expect from other residents, but generally speaking $100 is considered a good-to-great tip across the board. Anything more and you're setting yourself apart from the pack, in a good way of course.
Be Grateful: Always express gratitude, regardless of whether they choose to give you a gift. You could say, ``I appreciate any thought you put into my gifts this year!'' Use Humor: If appropriate, you can use humor to lighten the mood. For example, ``I've been really good this year--Santa's got my list!''
If someone thanks you for a gift, you can respond with any of the following: ``You're welcome.'' ``It was my pleasure.'' ``Glad you liked it.'' ``No problem, happy to do it.'' ``Anytime, happy to make you smile.'' ``It was nothing, just wanted to show you I care.'' ``I'm glad it found a good home.''
If someone thanks you for a gift, you can respond with any of the following: ``You're welcome.'' ``It was my pleasure.'' ``Glad you liked it.'' ``No problem, happy to do it.'' ``Anytime, happy to make you smile.'' ``It was nothing, just wanted to show you I care.'' ``I'm glad it found a good home.''