Good for them....
 

it is all legal and within our existing tax code...why not...

"President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday.

The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes.

There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to reform the byzantine tax code.

The Obama’s tax return indicates that the gifts, likely for their daughter’s college educations, began in 2007, when the maximum exemptible amount was $24,000 per couple. The maximum exemption has since increased to $26,000 per couple."

Obama Family Tax Shelter | Washington Free Beacon

A person would have to be kind of stupid not to take all advantages of the tax code. Makes no difference if you are the President or a mid-level manager or a truck driver. I certainly gave money each year to my daughter in a tax-free gift and I am sure you did it too.

are y'all ready for this?????:agree:

:D btk