< iframe width= "480" elevation= "320" src=" https://www.youtube.com/embed/mHH8jL3xa-M?rel=0 "frameborder=" 0" allowfullscreen > On the Your Cash, Your Wide range ® podcast episode # 229, Joe Anderson, CFP ® and also "Large Al "Clopine, certified public accountant address this email: "Great night Joe and Big Al, this is Marcus from Alabama. ROLL TIDE!!! I am a big fan of the show. Keep up the superb service supplying funny!!! but useful financial info to millions upon millions (this may be an overstatement) of viewers. I believe this was covered previously this year yet can't remember the episode so below is my demand. Can you explain estate tax obligation, present tax obligation, as well as the current allowed gift exemption rule. There is confusion on how as well as when the gift tax as well as gift exemption rule uses? Lets claim I have a 5 million buck internet well worth, I distribute $500k to a specific( non partner) which is plainly over the 15k limitation for a year. Do I pay a tax obligation on 485k gift or is this deducted from the existing life time exemption of 11 million dollars? As a whole if one does not intend on having a net well worth of 11 million dollars should there be problem as to the quantity of money one hands out to a private in a year over their lifetime? Disclaimer, the above scenario is simply for instructional objectives only I do not have a 5 million buck total assets YET!!". Review the transcript and also reveal notes or listen fully podcast: http://bit.ly/YMYW-229. Schedule a complimentary assessment with among our CFP ® experts at Pure Financial Advisors: https://purefinancial.com/lp/free-assessment/. Subscribe to our channel and also remain tuned for the next episode of the Your Cash, Your Wide Range ® TV program: http://bit.ly/2FDSfK2. Subscribe to the YourMoney, Your Wealth ® podcast: https://link.chtbl.com/ymyw?sid=y. ESSENTIAL DISCLOSURES:. - Financial Investment Advisory and Financial Planning Providers are offered with Pure Financial Advisors, Inc. A Registered Financial Investment Advisor. - Pure Financial Advisors Inc. does not provide tax obligation or legal recommendations. Consult with a tax obligation consultant or attorney pertaining to details situations. - Viewpoints revealed go through transform without notification as well as are not meant as financial investment guidance or to forecast future efficiency. - Spending includes risk including the possible loss of principal. No financial investment method can guarantee an earnings or safeguard versus loss in durations of decreasing worths. - All info is thought to be from reputable resources; however, we make no depiction as to its efficiency or accuracy. - Intended for instructional purposes only as well as are not planned as personalized suggestions or a warranty that you will accomplish a wanted result. Before applying any kind of approaches discussed you should consult your tax as well as economic advisors. #YourMoneyYourWealth #YMYW #YourMoneyYourWealthPodcast