Puff, the Magic Dragon - Parodies. 1  In the mid 1970s an American Jewish band named Ruach created a parody version of the song entitled Puff the Kosher Dragon.
Pay tuition directly to the college. If you are considering making an outright cash gift, another option is to bypass your grandchild and pay the college directly. Under federal law, tuition payments made directly to a college aren't considered taxable gifts, no matter how large the payment.
1 So one person may give an amount of $13,000, but together they can give you $26,000 without any tax owed. 2  If the money is for tuition or medical expenses, it will not be considered a gift.  You can give money to your spouse and it will not be subject to gift taxes.