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/

OTHER VIDEO WITH DANIEL:

https://youtu.be/G1Dc6gVv90g

OTHER RELEVANT VIDEOS:

https://youtu.be/zjrbXScvmDA

https://youtu.be/nkFQmsdCW-I

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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.