1 Drag the iTunes Library.itl file to your Desktop. 2  In the iTunes folder, open the Previous iTunes Libraries folder. 3  Find the file named iTunes Library YYYY-MM-DD where YYYY-MM-DD is the date you updated iTunes (Year-Month-Day). Windows: Navigate to \Users\ username \Music\iTunes\. 2  Drag the iTunes Library.itl file to your Desktop. 3  In the iTunes folder, open the Previous iTunes Libraries folder. 4  Find the file named iTunes Library YYYY-MM-DD where YYYY-MM-DD is the date you updated iTunes (Year-Month-Day).
Annual Exclusion. No gift tax is owed by a person who gives anyone gifts that have total value of less than the annual threshold established by the Internal Revenue Service. As of 2012, the threshold is $13,000. Giving a car with less value than this limit does not incur gift tax.
The National Retail Federation estimates that the average family will shell out roughly $462 on gifts for family members this year. Add to that the $132 that the typical person will spend on gifts for friends, co-workers, babysitters, and teachers, and youâre looking at a nearly $600 gift budget. But if you donât have that kind of disposable income, it can make following general gifting guidelines nearly impossible to follow.