“””I dont understand why it is any of the governments business what I do with my after tax money. If I give money to my son, why should he pay tax on it if I already have? Screw the IRS.”””
Oh but it is the government’s business. The government wants to tax your estate when you die. If the government allowed you to give away your estate to your son before you died, then the government would not be able to tax your estate.
Isn’t more government wonderful!!!! (sarc)
Be sure use this tax planning tip to minimize your taxes!