Christmas gifting and more importantly, spending, has come along way since the 1910′s.  In 2012 parents spent about 5% of their monthly income on christmas gifts for their children, down from a peak of 8% in 2010, but still much higher than the first half of the 20th century; then, it was uncommon for households to spend more than 1% of monthly income on their children.  Considering iPads and video game consoles have taken over the dolls and teddy bears of years past, this doesn’t come as much of surprise!
Happy Holidays,
JDKatz, P.C.

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JDKatz, P.C. is a full-service law firm focused on tax law and estate planning. We are dedicated to minimizing your existing liability and risks while providing valuable tax planning to streamline your tax issues in the future. Please call us at 301-913-2948 to schedule an appointment to meet with one of our trusted attorneys.