The annual amount that an individual can give to another person without having to pay federal gift tax, which was up to $13,000 in 2010 and 2011, and periodically adjusted for inflation.
The Education Savings Bond Program allows individuals to exclude interest income from certain U.S. government bonds, issued after 1989, from their taxable income when using the funds to pay for qualified higher education expenses. These bonds include Series EE and Series I Bonds.
