Paul Fellinger
Telephone: Ext 217

 














Current Issues

Avoid Gift Treatment for Large Medical Expenses

The annual exclusion for gifts remains at $13,000 for 2012. This limit applies to the total of all gifts, including birthday and holiday gifts, made to the same individual during the year. However, any payment made directly to the medical care provider (e.g., doctor, hospital, etc.) is not subject to the gift tax and, therefore, is not included in the $13,000 limit.

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