Give The Gift That Gives Back

Giving can be one of the most enjoyable moments, but it also has its downsides. Not everything can be gifted without issue, there are hurdles such as taxes and regulations. With Valentine’s Day just around the corner and some scrambling for last-minute gifts, giving someone an asset that only grows in value over time would be the perfect way to say, ‘I love you’. Like long-term relationships and love, the gift will continue to grow and give back. Here are some of the ways you can give your loved one a financial gift without complications.

What can you give?

Any person can give any individual up to $15,000 each year without running into any complications. If you want to give more than that, you’d have to start using your lifetime federal gift tax exclusion, which as of 2020 is $11.58 million. So theoretically any person can give up to $15,000 to as many people as they want, but if you do want to exceed that amount, you have to file a gift tax return and keep a detailed record of the amount.

What to consider

If you’re gifting cash, there is most likely no income tax implication for the beneficiary, unless your gift is more than what the government allows. If you gift stocks on the other hand, if the recipient chooses to sell, they will end up having to pay. Giving someone gold however, is considered a gift like any other you would unwrap on special occasions and is considered a commodity. This means that you can give someone physical gold without the recipient having to pay taxes. On the other hand, ETFs or gold futures will be subject to income tax laws, so as a gift physical coins or bullions would be ideal.

If physical gold coins or bullions aren’t in your budget, you can get your loved one silver coins or bullions. Silver is much more affordable at this time, but the future of silver demand will offer high-profit margins for investing in this precious metal. You can read more about how President Biden’s proposed climate initiative will affect the precious metals market here.

As seen over the last few weeks, silver’s demand is already skyrocketing. Silver hit an 8-year high this month and dealers have been struggling to meet the demand for silver coins and bullions. Investing in silver has always been a long hold move, however, with so much demand emerging it may soon become harder and harder to get. Allegiance Gold now has an exclusive limited mintage silver coin. At .999 investment-grade silver, the value of this coin will follow demand along with the value its exclusivity brings. You can get on the waitlist to be one of the first to purchase this 1.25 oz standing new guinea coin here.

Where can you buy?

You’ll want to find a precious metals dealer that is accredited by BBB and other third party sources. Price is also another factor to consider when buying gold. Since the price of gold fluctuates daily, it can be difficult to compare prices between different companies. Allegiance Gold has achieved the highest possible rating from verified third-party consumer protection agencies and has completed millions of dollars in transactions. Our ratings sit at 5-stars from satisfied clients and the company has earned the Most Trusted Gold IRA Firm honor in the U.S. Allegiance Gold also offers some of the most competitive prices in the precious metals market, and representatives will work with you one-on-one to create a diversified precious metals profile tailored to you or the recipient’s needs.