Yesterday, I received an advanced copy of the ethics column that is expected to appear on BusinessWeek.com’s Web site sometime today. It was written by Bruce Weinstein, and it looks at holiday gift giving in today’s economy.
I know we’re scaling back a bit in the gift department this year. We’re still giving holiday gifts to family and close friends, but they aren’t as expensive as they have been in the past. And, according to Weinstein, “The Ethics Guy,” there’s nothing wrong with that:

There are lots of ways to say “thank you” or “I value our relationship” to someone besides spending …read more

As the holiday gift giving season moves into seriously high gear, one of the questions I have received is whether or not a home is a good gift. So I thought now might be a good time to address it.
Just so you know, I am not a tax attorney, or a professional (like Taxgirl is), but I am aware that there are consequences to such a gift. Namely, the consequences to the recipient.
First of all, once the gift is given, the tax basis of the home shifts to the recipient. That means he or she is left paying taxes on …read more