Money Plant: It is also one of the commonly used lucky plants at home. There is belief that planting a money plant at home is the best way of attracting the charm of good wealth and prosperity. … However for gifting and offering the charm of good luck and prosperity to your loved ones, it is the perfect choice to make.
Money trees are thought to bring luck and prosperity to their owners. Next time you have one of these events coming up, give a money tree plant. We could all use more luck in our lives.
In order to express positive and prosperous feelings towards special ones then send money plants to your family, relatives and friends on him or her birthday, anniversary, friendship day, mother’s day and daughters day.
To do this, you’ve got to use IRS Form 709 when filing your annual tax return. You need to complete and submit Form 709 for any year that you make a taxable gift. Sending in the form doesn’t necessarily mean you’ll have to pay anything on the gift — it’s just the form you’ll need to use to declare the gift.
Like all flowering plants, money trees need proper care to bloom, but it’s not light, or a lack of light, that causes these indoor plants to fail to bloom. Outdoors, they produce flowers quite readily if their basic needs are met – and if they are pollinated.
Besides “money plant,” other commonly used names for this plant are “pothos,” “silver vine,” “devil’s ivy,” and “Solomon Islands ivy.”
In 2021, you can give up to $15,000 to someone in a year and generally not have to deal with the IRS about it. In 2022, this increases to $16,000. If you give more than $15,000 in cash or assets (for example, stocks, land, a new car) in a year to any one person, you need to file a gift tax return.
Gift Tax Limit: Annual
The annual gift tax exclusion is $15,000 for the 2021 tax year. This is the amount of money that you can give as a gift to one person, in any given year, without having to pay any gift tax. … You may also have to pay taxes on it. If that’s the case, the tax rates range from 18% up to 40%.
|Value of gift in excess of the annual exclusion||Tax rate|
|$250,001 to $500,000||34%|
|$500,001 to $750,000||37%|
|$750,001 to $1 million||39%|
|More than $1 million||40%|
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