This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

• Learn when Form 709 is required for gifts exceeding the $19,000 annual exclusion (2025).

• Understand how taxable gifts reduce the lifetime estate and gift tax exemption, even if no tax is paid immediately.

• Distinguish between a "present interest" gift, which qualifies for the exclusion, and a "future interest" gift, which does not.

• Identify the rules for gift splitting, which allows married couples to double the annual exclusion per recipient.

• Recognize qualified transfers for tuition and medical expenses, which are unlimited and exempt from gift tax.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep