FAQs
For your convenience, We have compiled a list of questions often asked by new clients. If your questions are not answered here or you need further information, then please contact us via e-mail or via phone at 603.382.8867 and we’ll be happy to help you. We look forward to hearing from you soon.
OFFICE HOURS
January 15-April 15
Monday - Friday
8:30am-5pm
April 16-December 31
Monday - Thursday
8:30am-4:30pm
Friday
8:30am-12:30pm
For Individuals
19. Does the recipient of a gift of less than $12,000 have to report the gift fund as income?
No, as long as that truly was a gift, rather than payment for work. Recipients are not taxed on gifts that really are gifts. The $12,000 amount is refered to as the annual gift-tax exclusion. It means you can give away as much as $12,000 this year to anyone you choose and to as many people as you wish without having to worry about any tax considerations and without having to report the gift.
A question that frequently arises is whether the person making the gift can deduct it. The answer is only if the gift is made to a qualified charity, and only if the donor itemizes deductions.
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