Many grandparents want to help their grandchildren financially, but there can be tax implications that come along with that. Not to mention, draining your own savings for your grandkids (no matter how much you love them) is never a good idea. But there is a way to gift money without reporting it legally. It’s called the annual gift tax exclusion, and it allows grandparents to “gift” up to $19,000 per year per grandchild without having to file any kind of IRS form. And you can do so without putting any of your retirement savings at risk. Here’s what you need to know.
