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For those that are high-net worth individuals, you can donate, $19,000.00 to anyone or anything in order to (IOT) reduce your taxable income. If your 2024 income approaches one of the tax brackets, its a good idea to gift IOT avoid paying income taxes at the higher bracket.

In addition, the giftee pays NO TAX on that income!!!!!! If you are married, your household can double that! 2025 gifting is 19k per individual, 38k per married couple.

Please talk to your CPA/Trust attorney and ask them about the IRS Gift Tax Exclusion for 2025.

Thanks!