The Wedding Gift Tax Trap: A Hidden Cost of Love and Support The joy of helping a child get married can be marred by an unexpected tax headache – the gift tax.
As parents, we want to support our children's big day without breaking the bank or overcomplicating their financial lives. However, when generosity exceeds the allowed annual exclusion, unintended consequences arise.
The gift tax is often misunderstood as a straightforward penalty for giving away too much.