Gift-giving is a common practice to express love, appreciation, and goodwill. While most gifts are exchanged without any tax implications, there are specific rules and limits set by the government to ensure that large gifts do not become a means to avoid estate taxes. The gift tax is a federal tax levied on significant gifts given during a person’s lifetime. As of 2023, there are certain limits and rates that individuals need to be aware of to navigate the gift tax system. In this article, we will explore the 2023 gift tax limit and rates and understand how much can you gift tax free that work to help you make informed decisions when giving gifts.