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    The Gift Limit 2023 Is Adjusted For Inflation

    It seems like Uncle Sam gets a cut of everything these days, so you might be concerned that when you give someone something it may be taxed. The good news is that you can give a lot of gifts without worrying about taxes thanks to an annual gift limit that is adjusted for inflation. In 2023, the annual gift tax exclusion is $17,000 per recipient, so you can give anyone up to that amount each year without worry. Anything you give above that will need to be reported on a tax return (Form 709). Gift taxes are imposed by the federal government and only apply to gifts that are worth…