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The Basics -- 5 cardinal rules of college gift-giving - MSN Money MSN Home My MSN Hotmail Shopping Money People & Chat Sign In W eb Search: Money S earch MSN Money: Help Home News Banking Investing Planning Taxes My Money Portfolio Loans Insurance Planning Home Retirement Savings Insurance Family/College College Tools Scholarship Search College Search Resources Decision Centers Commentary Index More Tools Related Links Message Boards Print-friendly version Send this to a friend Save for College Go to Step by Step A R T I C L E S Understanding the true cost of college Strategies to meet your college savings goal How to set up your child's college fund Small investments that yield big education dollars 5 cardinal rules of college gift-giving The best way to save for college An investment plan tied to yourchild's age Tax-savvy ways to fund college education Advertisement The Basics 5 cardinal rules of college gift-giving There are many ways, such as gifts and trusts, to help your family financially. But you should know the rules to protect yourself and your loved ones. By Adriane G. Berg Rule No. 1: Decide if you really want to make a gift There are consequences associated with gift giving, so think about what youre trying to accomplish. Dont transfer ownership and control over money without intending to do so. Once a name is changed on a deed, bank account or security, you have relinquished ownership of that asset. Even if you have placed the assets in a joint account, a creditor, spouse or other person named in the account can seize all of the money. Be careful. If you need help in handling money use a power of attorney, don't make a gift. Dont use custodial accounts if you think you'll need the money. The most frequently used form of gifts to grandchildren is the Uniform Gifts to Minors Account, the UGMA, or the similar Uniform Transfers to Minors Account, or UTMA. Although the assets are held in custody until the child reaches adulthood, the money belongs to the child. You cant take it back and the child gets the money at ages 18 or 21, depending on the child's state of residence. Make sure the gift is complete. For example, a deed with two names "in common" sets up only a half ownership. If one person dies, the other person does not necessarily inherit the remainder. Placing a grandchild's name on a deed beside your own does not guarantee that the child inherits the house. The child gets half ownership; the rest is distributed according to the law of intestacy for that individual state. Rule No. 2: Know how to title the gift The title on a bank account, stock, bond or deed creates wide differences in legal rights. A joint account transfers funds completely. Creditors, spouses and gift recipients can get all of it. Accounts that are Payable on Death (POD), and In Trust for Accounts (Totten Trusts) are not gifts. They are revocable transfers that pass without probate upon the death of the donor. Custodial accounts, such as UGMAs and UTMAs, transfer property irrevocably and with no strings attached. The custodian manages the account, and funds can be added to it. All of these types of accounts are considered the child's when it comes to determining eligibility for college aid, except POD and Totten Trusts. A true trust sets up a legal structure that the Internal Revenue Service taxes separately from yours or the recipients income. When a person receives funds from the trust, that person then pays the taxes on those funds. Trusts offer a great deal of flexibility. You can put restrictions on gifts held in trust. For example, there can be investment limitations or you can say the funds can be used to pay only for a grandchilds college, or that the funds can only be distributed after he or she reaches a certain age or once theyre married. Rule No. 3: Understand the tax consequences of a gift A child under the age of 14 is taxed on investment gains at his or her parents' highest marginal tax bracket. The so-called "kiddie tax is imposed to discourage transfers as a way to lower your tax bill. However, children under 14 get an exemption from taxation of investment gains of up to $1,400 a year. The bottom line: If income tax savings is your goal, transfer just enough to generate no more than $1,400 in returns each year. When the child reaches the age of 14, transfer more, unless the gift disqualifies the child for college aid. The donor is taxed for gifts. Be sure you follow the rules to get a gift tax exemption: You can transfer up to $11,000 per person each year without the recipient paying a tax or even reporting it on a tax return. Married couples can transfer up to $22,000 per beneficiary gift tax-free. If college is upon you, you can give an unlimited amount of money and pay no taxes if the gift is earmarked directly for tuition or other college fees (although not room and board). You can also pay the medical expenses of a beneficiary in unlimited amounts, if payments are made directly to the medical institution. If you must pay a gift tax, file on the April 15th after the year the gift was given. Gifts over the $11,000 to $22,000 rule are subject to a gift tax based on their fair market value at the time the gift was made. The usual procedure is to file a gift tax return and use all or a portion of the lifetime $1 million exclusion that we each get for gifts and inheritance. (The exclusion bumps up to $1.5 million in 2004, $2 million in 2006 and $3.5 million in 2009. In 2010, the gift and estate tax are to be repealed. The Republican-controlled Congress may try to accelerate these changes.) Rule No. 4: Know the best strategy to maximize the gift. Will you give now or later? If college planning is the goal, you may want to start immediately. Be sure that you don't use property that qualifies under the stepped-up basis rule. Known as SUB, it allows property such as your home to be appraised at its fair market value upon your death, rather than what you paid for it 20 years ago. So, if you have some highly appreciated property and transfer it during your lifetime, your family will end up paying more in taxes. You are depriving the family of this handsome tax benefit. If you need to give money right away, liquidate non-appreciated property or get rid of your losers. Or you can keep the asset in your name and take a loan against it to make the gift. Will you give outright or in trust? The 2503 C trust, sometimes called the child's trust, allows you to hold the gift in trust until the child reaches age 21, and get the $10,000 gift tax exclusion. If the child dies before reaching that age, the money goes into his or her estate. The money cannot be used to discharge a legal obligation of the donor. College is not a legal obligation. Interestingly, if the grantor/grandparent reserves the right to get income from the trust, the IRS considers the grandparent the owner for tax purposes. In that case, the gains are taxed in their bracket. Family limited partnerships have been around since 1910, and have enjoyed a recent resurgence. If you like the idea of a trust, but want to control the money and investments yourself, consider transferring the gift to a partnership. You act as general partner and the children or grandchildren are limited partners and recipients. Their tax bracket is applied to gains, and you can distribute the funds when needed for college or other purposes. The gift is out of your estate and even better, the gift is subject to IRS gift tax discount tables. In that way, you can transfer more than $1 million free of estate and gift taxes over the next few years. Rule No. 5: Understand the family impact of your decision Although the rules of gifting are technical, the act of giving can be very emotional. Giving a gift to one family member in need may anger another family member, even if that person is financially affluent. A few devices can help smooth family tensions, or at least stave off future legal battles. The advancement clause in a will asserts that gifts given during your lifetime are an advance against a future inheritance. This allows you to give, or advance money to one relative today, and have your executor "even out the score," after you are gone. For example, if you give Grandson John $10,000 for tuition and give Granddaughter Sally nothing, you can still leave the two of them a total of $50,000 in your will. But since John already received $10,000, he gets only $15,000 upon your death and Sally gets $25,000. What if you intend to favor one family member over another? You can forestall a legal fray with the "in terrorum clause." That clause asserts that in the event that one relative is disgruntled, any attempt to attack the will or trust results in a forfeiture of inheritance rights. Few heirs fight for the principle of the thing. Resources Read/Post comments on the Your Money message board Find a problem in this article? Send us e-mail Free Newsletters! Search MSN Money tips © 2005 Microsoft MSN Privacy Legal Advertise Feedback Help
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San Francisco International Gift Fair THE ENTIRE SAN FRANCISO FAIR UNDER ONE ROOF IN FEBRUARY! New Schedule, New Division, New Fun and Excitement!! We’re consolidating the SFIGF UNDER ONE ROOF at Moscone Center, beginning with the February 2006 Fair. You’ll find new product neighborhoods featuring specific merchandise categories to make shopping and selling easy for everyone. With the closure of the Concourse Convention Center, the exhibit floor will be packed to the brim with the season’s most cutting-edge designs. You will find former Concourse exhibitors throughout Moscone Center South Hall – with the exception of the popular GardenStyle, which will be re-located to the North Hall, next to the At Home division. In addition, the timing of the San Francisco market will be concentrated into 4 days, as the Fair will close at 2:00 pm on Tuesday, February 7, and since there will be one day less to shop—you’ll want to be sure to plan your time wisely to see the entire market and enjoy your time in the City By The Bay. Don’t forget to shop PetStyle – a new product division in Moscone Center South Hall and add fresh, new profit-making products to your merchandise mix. This new division was met with great enthusiasm in the summer market. Pets are a $34 billion a year industry, and you’ll want to cash in on the latest products for our four-legged friends! The permanent showrooms of the Giftcenter & Jewelrymart will still be connected by free and frequent shuttle service during the February 2006 Fair - operating on Saturday through Tuesday Fair days. COME FOR THE FAIR…STAY FOR THE CITY! There’s so much to love about America’s favorite city…the vistas, the landmarks, the cuisine, the culture…and now an entirely NEW San Francisco International Gift Fair®! Show Hours 9:00 am – 6:00 pm, Saturday - Monday 9:00 am – 4:00 pm, Tuesday (Show Closes Tuesday, 4:00pm) Registration Hours 8:30 am - 5:30 pm, Saturday - Monday 8:30 am - 3:30 pm on Tuesday Pre-Fair Registration at the Giftcenter & Jewelrymart 8:30 am - 5:30 pm — Wednesday, Feb 1 thruFriday, Feb 3 Location Moscone Center San Francisco, CA Buyer Registration Phone: (800) 346-1212 The San Francisco International Gift Fair® February 4-7, 2006 Apply To Exhibit Here Buyers: Register Here --
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Best Buy GC - $100 Gift Card - MUSIC JC 2 ');}else {document.write('');}//-- Entire Site Electronics Cameras & Camcorders Computers Home Appliances Phones & Communications Office Products Music -Album Title -Artist -Song Movies -Title -Person Games Software Resources Birthday Best Buy Geek Squad Weddings Music Games Movies Purse Best Buy Global Gift Cards Product Info Our Price: $100.00 Free Shipping In Stock Usually ships in 1 business day Estimate arrival time . Store Availability Not Available Best Buy GC$100 Gift Card Model: MUSIC JC 2 It's a gift every music lover will love. Give a Best Buy Gift Card that lets the rockers in your life pick out exactly the music or music-making device they want. Our music-themed Gift Cards are shipped free of charge, good toward any future in-store and online purchase. More Options Compare with products in this price range. About Us News Center Careers For Our Investors Business to Business Community Relations Store Pickup Returns & Exchanges Store Locator Weekly Ad Financing Offers Buy Gift Cards Check Gift Card Balance Best Buy Credit Card Affiliates Program Offer Sign-Up Rebates Warranties Service Plans PC Upgrades Repairs Replacement Parts Software End User License Agreement Car Home Entertainment Satellite Appliances Welcome . Please create an account or Sign in . Your Cart Contains 0 items Subtotal: $0.00 View Cart | Checkout Your Account Best Buy Credit Order Status Wish List Gift Cards Order Status Shipping Rates Returns Rebates Store Pickup Site Map Performance Plans Your California Privacy Rights Conditions of Use | Legal Policies | Privacy Policy Online prices and selection generally match our retail stores, but may vary. Prices and offers are subject to change. © 2003-2004 Best Buy. All rights reserved. For personal, noncommercial use only.
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College Graduation Gift Ideas - FindGift.com Personalize FindGift.com! -- Login | Sign Up | List of Services Gift Ideas Gift Registry Gift Shops Gift Bookmarks Home | Help keyword search Gift Giving Made Easy! A free service dedicated to helping you find creative gift ideas! Home Occasions Graduation College Refine Search for Graduation Gift Ideas College for Him for Her Any Price $0 - $10 $11 - $25 $26 - $50 $51 - $100 $101 - $200 $200+ Related Links Collegiate Gifts Use our Gift Wizard to customize your gift search Use our Gift Finder to find gift ideas customized to the likes/dislikes of the recipient. Custom Collegiate Gifts Gifts for students & graduates Order online - shop today & save! www.CollegiateGifts.com Free Spa Bag! Buy a Salon/Spa Gift Certificate Get a Free Spa Bag - 1500 locations www.1800THESALON.COM Viewing 1 - 10 of 2555 gift ideas found Life is a Journey Bracelet from Femail Creations ($59.00) This lovely sterling silver bracelet is a celebration of the eternal Now. Banded, cuff style is stamped with the words "Life is a journey, not a destination" on top and "Enjoy the moments" on the underside. We are proud of our products that are handcrafted in the USA. Questions? Contact Femail Creations . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Personalized Graduation Cartoon by Anita Massimini-Brown from Cowboy Chuck Company ($14.00) Hand-personalized by Anita with graduate's name, school and year for a male or female. A keepsake they will treasure forever. 8x10 matted. Get your FREE personalized cartoon by clicking "FREE Picture" button on our home page. Orders ship in ONE business day. Questions? Contact Cowboy Chuck Company . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Five Simple Rules Paperweight from Isabella ($29.97) Only five simple rules for happiness! Keep this paperweight in plain sight as a gentle reminder that life can be changed. 2.5" X 1.75". Questions? Contact Isabella . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Each Step Of The Journey Glass Paper Weight from Personal Creations ($16.95) A Personal Creations Exclusive! For someone about to take the big step, this solid glass paperweight is clearly perfect! $5 OFF orders over $40! Save on personalized gifts, ornaments and decorations. PROMO CODE: GFB548. (exp 12/31/05) Questions? Contact Personal Creations . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Graduate Definition Glass Paper Weight from Personal Creations ($16.95) A Personal Creations Exclusive! For someone about to take the big step, this solid glass paperweight is clearly perfect! We laser engrave any name, up to 20 characters on the definition of "Graduate." Measures 4"Hx5"Wx34"D. $5 OFF orders over $40! Save on personalized gifts, ornaments and decorations. PROMO CODE: GFB548. (exp 12/31/05) Questions? Contact Personal Creations . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] "Anything's Possible" Inspirational Marble Keepsake from Personalization Mall ($26.95) Choose from 5 inspirational verses or write your own on this artfully crafted marble keepsake. Add a custom sentiment to the back for a truly unique keepsake. Makes a memorable gift for the new graduate. *Money Saving Coupon* Save 15% off your order! Use code 'findgift' during checkout. Hurry, offer expires September 30th! Questions? Contact Personalization Mall . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Thoreau Pendant from Isabella ($29.95) Henry David Thoreau's dynamic words help to remind us of why we are all here. live the life you have imagined. Questions? Contact Isabella . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Sincerity Necklace from Isabella ($69.95) One of the most delicately romantic pieces of jewelry we've ever seen. 1.75" pendant on an 18.5" necklace. Questions? Contact Isabella . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Crocs Shoes from BirdieBall ($34.95) Crocs are the shoe phenomenon sweeping America. Light, comfortable and incredibly durable, this shoe will blow your mind. Easily sized and available in all the colors of the rainbow. Comfortable foot massage. Under 6 ounces. We feature unique and functional golf related products. BirdieBall is the PGA Award winning off-course golf ball. Questions? Contact BirdieBall . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Personalized Woman of the Year Magazine Cover Label from Last Laugh Gifts ($22.95) Surprise and delight a woman you wish to recognize! Email us her photo and a personalized message. We'll create a Time Magazine (Woman of the Year) label. Looks like a real cover! Unique gift for mom, boss, grad, or teacher! Give your gift and enjoy seeing the surprise and delight it brings! Questions? Contact Last Laugh Gifts . Add to Gift Bookmarks Add to Registry [ More Gifts from this store ] [ People Who Liked This Gift Also Liked ] [ Report Error ] Page: 1 | 2 | 3 | 4 | 5 | viewing 1 - 10 of 2555 gift ideas found Bosses Day Oct 16, 2005 24 Shopping Days Left Bosses Day Gift Ideas Sweetest Day Oct 15 Halloween Oct 31 More Holidays Seasonal Gifts Wedding Gift Ideas Anniversary Gift Ideas Autumn Theme See this month's Top 20 Gift Ideas Gift Helpers » Anniversary Gifts » Flower Meanings » Monthly Flowers » Monthly Birthstones » Signs of the Zodiac » Additional Resources FindGift.com Newsletter Sign up to receive seasonal and unique gift ideas via email. Email Address Merchant Login | Add Your Products to FindGift.com | Press Room | FAQs | Contact FindGift.com Conditions of Use | Privacy Policy | Site Map © 1997-2005, Registry Online, Inc. FindGift.com and its logo are trademarks of Registry Online, Inc.
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Amazon.com: Gourmet Food: Rise & Shine On Your Birthday Gift Basket Your Store Gourmet Food See All 31 Product Categories Your Account | Cart | Wish List | Help browse products | top sellers | gifts | chocolate | meat | seafood | gourmet cheese | wine Search Amazon.com Gourmet Food Home & Garden Kitchen d Web Search Note : This item is only available from third-party sellers ( see all offers ). Not eligible for Amazon Prime. ( Learn more ) ITEM INFORMATION Explore this item buying info Share your thoughts write a review write a So You'd Like to... guide e-mail a friend about this item RATE THIS ITEM I dislike it I love it! 1 2 3 4 5 Edit your ratings GreatArrivals Gift Baskets Price: $42.99 Availability: 1-2 business days 1-Click ordering is not available for this item. A9.com users save 1.57% on Amazon. Learn how . Don't have one? We'll set one up for you. Rise & Shine On Your Birthday Gift Basket Other products by Great Arrivals Price: $42.99 Availability: Usually ships in 1-2 business days from GreatArrivals Gift Baskets Features: They'll Think of You As They Sip Their Morning Coffee! Wonderful Birthday Breakfast Gift! Gourmet Breakfast Items Last For Weeks! Dim: 16"L x 13"W x 12"H Only $9.99 for UPS Ground Shipping! Ingredients: Includes: Vermont Gold Buttermilk Pancake Mix, Dutch Pancake Maple Syrup ~ large 12 ounce bottle!, Ceramic Coffee Mug, de Geneve Hazelnut Cappuccino , de Geneve Columbian Supremo Coffee, First Colony Breakfast Blend Coffee , Lady Walton's White Chocolate Raspberry Cream Filled Cookies, Perugina Irish Crme Biscotti with Pistachios Dipped in Dark Chocolate, Apple & Cinnamon Wafers, Gourmet Green Tea, ...in an Oval Two Tone Basket. Amazon.com Sales Rank: #660 in Gourmet Food Shipping: Shipping rates and policies ASIN: B0002VLXX0 Date first available at Amazon: August 13, 2004 This page was created by a seller. What similar items do customers ultimately buy after viewing this item? 31% buy Taste of Italy 24% buy this item(Rise & Shine On Your Birthday Gift Basket 11% buy Rise & Shine 10% buy Bath & Body Essence Spa Gift Basket 8% buy You're The Best Gourmet Snack Basket 7% buy Jumpin' Java Coffee Gift Basket - Small 3% buy Gone Fishing! Gift Basket Product Description Rise & Shine on your birthday with this delicious breakfast gift basket. Cinnamon Apple Pancake Mix, Maple Syrup, Cappuccino, Coffee, Tea, Biscotti, and more including a "Happy Birthday" 11 ounce ceramic coffee or tea mug! Ingredients Includes: Vermont Gold Buttermilk Pancake Mix, Dutch Pancake Maple Syrup ~ large 12 ounce bottle!, Ceramic Coffee Mug, de Geneve Hazelnut Cappuccino , de Geneve Columbian Supremo Coffee, First Colony Breakfast Blend Coffee , Lady Walton's White Chocolate Raspberry Cream Filled Cookies, Perugina Irish Crme Biscotti with Pistachios Dipped in Dark Chocolate, Apple & Cinnamon Wafers, Gourmet Green Tea, ...in an Oval Two Tone Basket. Be the first person to review this item! Listmania! FRANK MCCOURT :A list by jenny , FATHER ED Suggestion Box Your comments can help make our site better for everyone. If you've found something incorrect, broken, or frustrating on this page, let us know so that we can improve it. Please note that we are unable to respond directly to suggestions made via this form. If you need help with an order, please contact Customer Service . Please mark as many of the following boxes that apply: Product information is missing important details. Product information is incorrect. The page contains typographical errors. The page takes too long to load. The page has a software bug in it. Content violates Amazon.com's policy on offensive language . Product offered violates Amazon.com's policy on items that can be listed for sale. Comments or Examples: Examples: Missing information such as dimensions and model number, typos, inaccuracies, etc. GreatArrivals Gift Baskets Shipping Information GreatArrivals Gift Baskets Returns & Exchanges Contact GreatArrivals Gift Baskets GreatArrivals Gift Baskets & Your Privacy Where's My Stuff? • Track your recent orders . • View or change your orders in Your Account . Shipping & Returns • See our shipping rates & policies . • Return an item (here's our Returns Policy ). Need Help? • Forgot your password? Click here . • Redeem or buy a gift certificate. • Tax and seller information • Visit our Help department . Search Gourmet Food Home & Garden Kitchen All Products for Turn your past purchases into $$$ Learn more about selling at Amazon.com today! Top of Page Amazon.com Home | Directory of All Stores Our International Sites: Canada | United Kingdom | Germany | Japan | France | China Contact Us | Help | Shopping Cart | Your Account | Sell Items | 1-Click Settings Investor Relations | Press Releases | Careers Conditions of Use | Privacy Notice © 1995-2005, Amazon.com, Inc. or its affiliates