Giving is such a great feeling. Giving money, time, and any kind of help.

Giving is the best feeling in the world. When you help others it helps you.

"We make a living by what we get. We make a LIFE by what we GIVE" Such an important aspect of life.

Dave is super wealthy so he doesn't remember that the ordinary person will never pay a cent in gift tax. For some reason Dave gives a lot of wrong information about estate planning matters. Here's how it works: The $15k per year is called the "annual exclusion amout", which is the amount you can give per donee without being required to report the gift to the IRS. If you give more than 15k per year per donee, you must report the gift on IRS Form 709, but there IS NO TAX DUE until your total lifetime giving exceeds another limit called the "applicable exclusion amount". This amount is your combined amount of lifetime giving plus giving after death through your estate that will be completely exempt from gift and estate tax. The current applicable exclusion amount is about $11.5 million, indexed for inflation. It will sunset to $5 million indexed for inflation in 2026, but any gift tax exclusion used before 2026 will not be affected. If you are married, you can "split" a gift and effectively give $30k per donee per year without using any of your exclusion amount, but you still have to report the split gift on Form 709. If you are blessed enough one day to exceed the applicable exclusion amount, the current top tax rate on thise gifts in excess of the exclusion is 40%.

Thank you for sharing 🙌

I'm afraid I just don't the the same joy/feeling Dave talks about when giving to a non profit. Just being honest and I don't know where that money is going despite whatever the group may say.

I have a heart to give but don't have the funds

You did not mention a Trust. Example is if I wanted to donate a Vacation house to my fire station. The membership at the fire station say they want money, you so no you can have this vacation house that is in a trust... You can use it for fundraising vehicle, but you can not sell it! ect.... Generally the the social members would do the up keep of the house and either they rent it out or a realtor would rent it out. Profits go to the fire station.

Giving your family money. Its called cash.

My takeaway: when you become too generous with your money (that you have already paid taxes on) and decide to bless other people, the IRS gets jealous and demands that you give them half of it out of spite.

Split payments up in smaller amounts to avoid IRS then they are arrested for “structuring” payments thanks Dave

Amazing videos Dave!

Direct payments for medical and educational expenses used to be exempt from gift tax limits. Is this still the case?

Honestly just give cash, no chance of getting caught

Excellent

Hey Dave, can I get on YOUR list?

Lucky for Santa he doesn’t have to pay taxes on giving for the rest of the world or else he’d be broke.

Give your time if you don’t have the $$

Only thing I had out is L's in Call of Duty.

Gentleman, I am a Christian, trying to raise money for a new business. Can I ask for donations for this business and give a thank you gift and not charge sales tax for this gift? How long can this continue?

If I give to my company would this count given they are different entities?

So who is taxed, the one who is giving or the one who gets it?

I want to pay my moms bills. How could I do that for her. Is it unethical for me to open a checking account and just put money in and her use the debit card

Helping others is a best feeling ever! I too upload similar VIDS 😉

Always wonder how the irs finds out?

You can give without loving, but u can't love without giving! I too upload similar VIDS👍

This is amazing video! This is perfect for my next vids.😊

How i was able to donate $18,000 to charity when i didn't have such money on me⬇️⬇️

Donate your used stuff to the Salvation Army instead of trying to hock it

"When you start giving, that's when you become an adult." Eh...not sure I agree with that, that's almost an elitist type statement. A lot of us don't "give" per Dave's terms, but I always thought donating the odd $50 to someone's walk for cancer or taking stuff to Goodwill 3-4 times a year, or donating time was just as good as giving a bunch of money. You don't have to "give" to be an adult, what a ridiculous statement.

My goals for 2021, pay 1 million in income tax and give away 12k to people who need help, 1k per month.

In my head Dave is my Grandpa 😂

1:00 - what? Give a single mother going to church rent for half a year. Nah, That's creepy.

Mr.beast??

How about you all pay more taxes for god sake, then the single Mum that has lost her job will never worry about her rent for the next half year. Jeez. I feel so sorry for the lower class in US