Give a Gift:
Taxpayers can give up to $13,000.00 in 2011 to any number of people without having to file a gift tax return. Larger gifts are taxable, but few taxpayers ever have to pay the gift tax thanks to a credit that covers the bill on up to $5 million ($10 million per married couples) in taxable gifts.
If you hold bonds that have decreased in value, you can lock in a tax loss by selling the bonds and reinvesting in a different bond with the same or higher cash flow. You can use the capital loss to offset any 2011 gains.
Stacey R. Edwards Jones, Managing Partner