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Any time you give someone money or property you may be subject to paying a gift tax. The federal government has established guidelines for gift tax exemptions and gift tax rates for all property transferred. These rates and exemptions can change on a yearly basis and it is important to check with the IRS for updated gift tax laws.

Starting in 2006 the IRS determined that gifts under $12,000 per year were exempt from federal gift tax, which is an increase from the $10,000 limit set for years prior. If you give a gift valued over this amount your gift will be taxed at the current gift tax rate of eighteen percent. Federal gift tax laws also state that there is a lifetime deduction amount of $2 million. If you donate more that this amount in your lifetime than you will be subject to a forty-five percent gift tax rate.

WHAT IS THE DEFINITION OF A "GIFT"?

In order for the government to consider your donation a "gift" it must meet several requirements. First, your gift must be gratuitous. This means that when you give someone something, such as a car, you do so for less than the fair market value of the item. You cannot exchange or receive goods for the fair market value because then it will be considered a sale by the government and will not be exempt under gift tax laws.

Your gift must also be complete and voluntary. This means that you cannot retain control over the item you are transferring, and you must be giving the gift under your own free will. If you are being court ordered to put aside money for your children this is not considered a gift. Lastly, the gift you make must be tangible. According to current gift tax laws, an exchange of services is not considered a gift.

STIPULATIONS ON GIFTING FOR TAX EXEMPTIONS

As long as your donation is considered a gift according to the above guidelines, and you keep the value of the gift below the annual limit, you do not have to claim anything on your taxes. Keep in mind that the annual limit is on a per person basis. You are allowed to give both Little Johnnie and Little Susie gifts of up to $12,000 each per calendar year and still be exempt from the federal gift tax.

You should also remember that the IRS counts the gift on the day your check is cashed, not on the day it was written. Therefore you may be liable for paying a gift tax if Little Johnnie didn't cash his check until the following year, and you proceed to give him more money on Christmas.

Most people will never have to pay a gift tax based upon the federal guidelines previously mentioned. Several gifts are considered exempt from the gift tax assuming they meet particular guidelines. The exemptions, in no particular order, are as follows:

1. Gifts made to pay for tuition and/or medical expenses

2. Gifts to your spouse

3. Gifts to a charitable organization

TUITION EXPENSES EXEMPT FROM THE GIFT TAX

Both tuition and medical expenses must be qualified transfers to meet exemption guidelines. Tuition payments to assist another individual must be made directly to the qualified institution, not the individual. Also, the money must be directed towards paying down the cost of attending the school and not put towards books and supplies.

MEDICAL EXPENSES EXPEMPT FROM THE GIFT TAX

Medical payments are similar. In order to qualify for a gift tax exemption the money must be paid directly to the medical facility and not to the individual who received services as reimbursement. The money gifted for medical expenses cannot be covered, and therefore reimbursed, by insurance. Failure to adhere to these guidelines will nullify your money as a "gift" since you will be receiving reimbursement from the insurance company equal to the money you paid to the medical facility.

AVOIDING GIFT TAX WITHIN THE FAMILY (BETWEEN SPOUSES AND CHILDREN)

Gifts between spouses can be unlimited. Additionally, spouses can pool their annual exclusion limits to give a larger gift to an individual or group of individuals. For example, a married couple with three children will be allowed to gift $36,000 from each individual (i.e. $12,000 per child x 3 children), for a total of $72,000 per year to the children. Now, instead of $12,000 per year, each child can receive $24,000 in gifts and both parents will still not be subject to paying any gift taxes.

CHARITABLE ORGANIZATIONS AND THE GIFT TAX

Gifts made to qualified charitable organizations may also be unlimited. Qualified organizations include foundations operated for the following reasons: prevention of cruelty to animals or children; educational purposes; scientific; literary; charitable; or religious. When filing your income tax return you will have a separate section for listing items which qualify for a charitable gift tax deduction.

author bio - Rocco Beatrice, CPA, MST, MBA
award-winning estate planning, trust expert
MS - Taxation, Master of Science Taxation
MBA - Management / Taxation
BSBA - Management / Accounting
CPA - Certified Public Accountant
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Asset Protection, Irrevocable Trust, Medicaid Asset Protection
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Original article posted here: Gift Tax Exemption
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Birth control methods have been used by women since ages. They have used herbs to control fertility. Family planning has always been widely practiced by men and women since ages. The difference is that in early times people used birth control methods that were risky and caused death to a number of women. They were dangerous and ineffective. But today they involve less risk with it.

Today medical science has endowed women with various choices when it comes to birth control such as the pill, Norplant capsules, Depo-Provera, the female condom, diaphragm, cervical cap, intrauterine device (IUD) and sterilization. Most of these alternatives are convenient and easy and women do not face many problems. But there are various medications, supplements and other substances that have been said to worsen high blood pressure (hypertension). And few women do have serious problems when no proper advice is taken from the medical provider. The birth control methods especially the pills can cause migraines, yeast infections, vitamin deficiencies, ectopic pregnancies and change in moods. There are few serious problems also associated with it such as increased risks for cardiovascular disease and cancer. As a result some women are going for something natural, for something that has no chemicals, no side effects and a surprisingly low risk of pregnancy.

Years back abstinence that is having no sexual intercourse was practiced by many. They did have sex when they wanted but kept them away from having sex during the days of ovulation in a woman. They called it the rhythm cycle. A woman would know that she is most likely to get pregnant by observing her own body and menstrual cycle. This method is still used in todays modern world known as FAM (fertility awareness method) that help women to know when ovulation is coming and is likely to get pregnant and as such refrain from sexual intercourse. Although such technique is not dangerous it is not 100 % effective. But there are some old methods that cause great damage and can even cause death.

In third world countries where use of contraceptives is not common, people use methods that are dangerous and ineffective. They also use herbal supplements for birth control that might have severe side effects. Although not all herbal birth supplements are harmful yet there is some risk associated unless one does not have complete knowledge about it. The use of natural supplements which has some extracts from plants does not mean that they are 100% safe. Such natural supplements can cause some allergies and other problems. Therefore it is always recommended to go for the modern methods of birth control and if you opt for natural method then there should be complete knowledge of the natural supplement. You should be aware of the risk factors associated with it and should not be used blindly.

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Acne could be an expensive condition. There are a variety of antibacterial products being sold in the market, which claim to relieve your acne condition while cleaning your pores. These are products that you have to use regularly for best results. However, if your skin ends up being sensitive to the cheaper cleansers, you may find yourself patronizing the more expensive brands, and spending more than you bargained for. Depending on the ingredients, a homemade anti-bacterial skin cleanser may help you save money. But first you have to determine if the ingredients actually fall within your budget, or if it would be cheaper to just buy commercially available cleansers over the counter.

Then again, savings may not be your priority, when you're making a homemade anti-bacterial skin cleanser. If you can make your own cleanser, you can gauge the amount of ingredients that is best to include in the formula. You won't have to be stuck with a premade solution which leaves a foul smell or irritates your skin.

Essential oils are a good base for many homemade skin products. You can mix essential oils together to create the perfect scent, or the perfect consistency. Tea tree oil, for example, is quite popular for use in acne medications. So is rosemary. Oils with strong scents may not be good to use on the face, so diluting them in water may be a good way to use them. You could try seeking the aid of an aromatherapist if you wish to learn how to mix essential oil-based homemade cleansers.

Besides essential oils, you could also have herbs in your solution. Sandalwood, bergamont and clove have antibacterial properties that may be useful in creating a homemade concoction. Make sure that the herbs are finely ground before you attempt to use them in your mix - this will ensure that the mixture is smooth and non-irritating, and potent besides.

Vitamin C has some proven antibacterial properties that may work against acne. Lime or lemon juice, in particular, have been a popular ingredient in traditional homemade acne remedies. Commercially available juice with sugar - in other words, the processed kind - may not be as effective as freshly squeezed and unadulterated juice. Make it a point to buy fresh lemons or limes, then cut and squeeze them yourself.

Honey is also a common implement for homemade remedies. Warm honey, in particular, is known to remove skin blemishes when used on the face regularly. You should make sure it isn't too hot before you apply it onto your face, of course! Fresh milk has also been said to be good as a facial cleanser, but milk that has not been pasteurized may contain some impurities that could harm your skin. On the other hand, commercially available processed milk may contain sugar and other additives that could be equally harmful!

Aloe vera is another ingredient that would no doubt be useful for adding into a homemade anti-bacterial skin cleanser. It has soothing and cleansing properties that are paralleled by few other herbs. If you can grow your own herbs and aloe vera in your backyard, you could definitely save on the cost of buying premade solutions.

Acne affects 90% of people worldwide. Some people are able to stop acne, with like homemade anti-bacterial skin cleanser, dead in its tracks.. Discover how you can quickly and easily find remedies for acne outbreaks and get the clear skin you deserve by visiting http://www.clear-skin-solutions.com/