From The Retirement Nerds.

If you want to help your children financially without triggering unnecessary taxes or IRS headaches, Daniel the CPA explains how to do this in the smartest, most tax-efficient ways.

We cover the annual gift tax rules, common mistakes retirees make misunderstanding step up in basis, how gifts can impact your overall tax picture, and the strategies CPAs use to transfer wealth while minimizing taxes. If you’re thinking about helping your kids with a home, education, or everyday expenses, this interview will help you avoid costly errors.

Daniel Astleford is a Certified Public Accountant (CPA) and runs his own accounting firm.

HERE IS WHERE TO FIND DANIEL:
Website: https://danielthecpa.com/
LinkedIn: https://www.linkedin.com/in/daniel-astleford/

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⏱ Timestamps:
00:00 Intro
01:30 Individual Annual Exclusion
02:54 Tax on Funds Used as Gift
06:09 Gifting Cash vs Other Assets
09:39 Gifting Real Estate
13:42 Education Expenses
15:49 Medical Expenses
16:34 The Death Tax
20:50 Where to Get Help

PLEASE NOTE:
This video is for education purposes only.
It does not constitute legal or tax advice for your specific situation.