Men’s DetailsA resource for the modern gentlemen.

Most experts recommend making gifts rather than loans. Trying to collect unpaid debts from a family member can

hurt your relationship with them. But be sure to document a gift with a letter to the recipient: If your gifts to one

person exceeds $13,000. 00 in one year, you must file a gift-tax return. You won’t, however, owe taxes. You can

give away up to $1 million over your lifetime without incurring a gift tax.

Men’s Details