How much tax on gift property?
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ingemar
Apprentice
Joined: 23 Apr 2006
Posts: 13
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 Posted: 12/22/07 - 07:02 Post subject: |
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| I would like to change name of the owner when it comes to my property, in fact – it should be treated as a gift, but I am not familiar with taxes, concerning gift properties. Can you give me some idea on what will the taxes be like? How much tax should I pay on gift property and do I have any better solution in this matter? |
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ruthy
Apprentice
Joined: 31 Mar 2007
Posts: 5
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| Posted: 01/20/08 - 22:43 Post subject: |
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| Well, it is interesting since, as far as I know, you will be in obligation to pay for that tax if you sell that property for the price which is less than its full value. So, that is your option. Taxes are always present, only you must take care to find the smallest one for your benefit. There are ways for you to arrange that tax is paid by the person which is receiving that gift. |
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