Client Retirement Gift?

Miller

What would be an appropriate gift to give a client who's about to retire? White collar..business client.

Answer
How well do you know this client? Has he/she been a good customer/client over the years?

Do you know if he/she has any hobbies or interests? You can base the gift on hobbies and interests- for example, if he/she likes the theatre, maybe tickets to a local production or concert. If he/she likes professional sports, perhaps tickets to a game?
If he/she likes travel- a gift card or certificate to a local travel agency so he/she can put it towards a trip
If he/she likes wine or champagne, a nice bottle with two glasses to celebrate with friends.

When my director retired, the staff chipped in and bought her a hot air balloon ride. We included a bracelet with a balloon charm to remember her gift.

Just a few ideas.

Do you have suggestions for a retirement gift...?

Jackie

My sister in law is retiring from 42 yrs of teaching elementary education. What would you recommend as a retirement gift, other than fresh flowers? I have to limit the gift to no more than 50.00. Something to show her she is remembered and loved, and a job well done.
What great ideas, some I would have not thought of.

Answer
I always like gifts that reflect the person's interests. So, what does your SIL like to do when she wasn't working? Travel? Gardening? Sports? Reading? Get her something she can use doing something fun.

If she likes to travel; maybe a nice carry-on sized suit case, zippered tote, or backpack. There are tons of fun travel accessories that she might like.

If she is a nature-lover, perhaps a small back pack with a few goodies. Or Binocculars, compass, water bottle, a sun hat, etc. Another idea would passes to the national parks or local state parks.

If she likes music; tickets or season's packets. Same thing if she likes theater. You could tuck these in a really nice card with a personal note.

Season's tickets if she has a favorite local sports team. Or maybe golf lessons, tennis lessons, etc.

If she likes the beach; bet her a beach tote, beach towels, a small thermos, beach hat, novel.

If she likes gardening: a membership to a local garden club, wildfire club, passes to local gardens, etc.

Have some fun!

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Retirement gift, any ideas?

ChiCa

My coworker is going to retire after 35 yrs of service. She is a shoe and jewelry lover. What could be an original and nice gift ? I'm thinking in getting a gift card should it be the best way to go ?
Any ideas, suggestions?

Answer
There is a gift item that is available in many card & gift shops called "Just the right shoe".
Neat gift idea for the shoe lover since they are fabulous designs AND collectors items, while being not too expensive. I have both given & received them as gifts and they are a very special keepsake item.
Check out the designers shop:

http://www.lorrainevail.com/shop/

Should I bring a gift for a retirement?

Nicole

I worked with a woman for six years as an assistant teacher, and she's now retiring. Should I bring a gift to her reception? Flowers? A gift card? I'm not sure if its expected.

Answer
Flowers are fine for a retirement gift, but check with the other
teachers make sure they aren't donating towards a larger gift.

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How to give money without having to pay gift taxes?

gift for her retirement image

Huy T

Dad wants to give me $20k to help me buy a house. He wants to avoid filling out a gift tax return (and paying the taxes). Can he gift 3 of my siblings $5k each, and those 3 siblings in turn right me a check for $5k (gift) to me? Everyone is technically under the $14k gift exclusion for the year but ultimately I will be the one with all $20k
update: I thought he has to file a gift return for anything over 14k? In the case above, where he gives 4 kids 5k and 3 of those kids in turn give it to one brother to pull their money together to buy a house. Is there anything illegal about that? and does it require any gift tax forms?

Answer
The current gift-tax exemption is $5.25 million. Taxable gifts simply chip away at the lifetime exemption. The annual gift-tax exclusion you refer to is $14k for 2013. This is the annual amount that can be gifted without chipping away at the lifetime exemption.

Your example. If your dad gave you $20k for a house, a portion of it - 14k - would qualify for the annual gift tax exclusion, leaving a "taxable" gift of 6k. The 6k, then, would chip away at his remaining lifetime exemption. Assuming he made no other taxable gifts during his lifetime, his remaining exemption would be $5,244,000 ($5,250,000 minus $6,000). NO taxes would be due.

Hope my answer was clear and earns your Best Answer vote!

DISCLAIMER FOR PROFESSIONALS: While the information in this response was obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. The opinion voiced in this answer is for general information only and it shall not be construed as tax, legal, or investment advice for any individual. Questioners are urged to consult with their professional advisers before making any decisions regarding their finances.

Retirement Guru, CFP®, EA, CES, CFS, AAMS
Certified Financial Planner⢠Practitioner
Enrolled Agent | Admitted to Practice before the IRS
Certified Estate and Trust Specialist

'Providing sound Retirement and Estate Planning Strategies since 1985'

Any ideas for a retirement gift for a musician?

Mithril Ka

A co-worker is retiring in a month. We are in a non-musical related field. However, music is her first passion and in her retirement years, she is looking forward to getting back in touch with the music aspect of her life. She's a brilliant piano player and has a master's degree in pipe organ performance. Any suggestions on a retirement gift that some other fellow co-workers and I could get for her? I thought it would be good for the gift to be music related since she's looking forward to re-engaging with something she's held off for awhile.

Answer
flowers and a music book

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Are thank you cards necessary for birthday party gifts?

gift for her retirement image

Dragonfly

I have always felt that thank you cards are proper etiquette for any party, whether it be baby shower, wedding shower, birthday party, graduation gifts, retirement gifts whatever. But I am shocked at some of the answers from one of my contacts questions. Some of them have said that it's only necessary to thank the person to their face, but not send a card. I've always thanked the person in person and also sent a card later on...is our culture getting away from proper etiquette these days...I mean I can't even get rsvp's from people anymore?

Answer
When somebody I knew got married, apparently she said thank you for the wedding present and refused to send out thank you letters. Her reason? She said thank you for the presents when they were in the wedding line. Family's response? Not repeatable on here!

I always write thank you letters for any gifts that I or my children receive and I get really annoyed when people don't bother.

My SIL / nephew is a culprit of this and if my husband wasn't around, I wouldn't get him any presents and when asked, I would state that as they have never thanked me for the presents I had to assume that he didn't like them - therefore I saved myself the time.

KD

Im looking for small buisnesses that want a gift and incentive program?

Cheekalici

I am currently involed in a gift and incentive business. I am looking for businesses that want to offer a gift and incentive progam to there employees. It can be used as safety incentives, Attendance Incentives, service aniversary gifts, bithdays, retirements, weddings ect.. anything you want! Your employees get to choose what they want! I would like to know why kind of businesses would be interested in this for there employees and if you currently have an incentive program for your business how do you like it?

Answer
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