You can be taxed for being too generous, but the IRS provides a couple of exemptions that can allow you to avoid the gift tax.
Gift tax rules allow tax-free gifts up to $14,000. How does the gift tax work? Do you owe taxes on a cash gift? How much can you give before paying tax?
Annual gift tax exclusion and contributions to a 529 plan?
Estate Planning and the New 2018 Tax Law The estate tax exemption and the gift tax work together in a sense that you have a unified lifetime credit for gifts, which match the estate tax exemption. The unified credit increases each year, along with the estate tax exemption. Each year there is... http://www.cpapracticeadvisor.com/news/12390227/estate-planning-and-the-new-2018-tax-law Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA