Instead of giving the typical toys, video games, and clothes this holiday season, have you considered giving shares of the companies that make the products?
While toys might break, and batteries can run out, stocks may help the gift receiver take a first step in getting their money right. Plus, you don’t have to brave the crowds during holiday shopping!
For 2023, the annual gift tax exclusion is $17,000 per person ($34,000 per married couple).
The Gift That Keeps on Giving
You can simply buy an actual stock certificate to gift it. Some financial institutions allow you to create a custodial account to transfer or buy stocks into. SoFi does not offer gifting of stock at this time.
Learn more about how to budget better this holiday season with SoFi’s Holiday Spending Guide.
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