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.
For instance, if one person gives another a gift of money once a year, there is no gift tax imposed on the first $10,000 given each year, and if someone gifts another person money in order to assist the individual in any medical or educational expenses the assistance provided is considered exempt from taxation as well if the bills are paid directly ...