You can give as much as your heart desires. It's your money, you can do with it what you want. (Don't send it to Cuba, Iran, or North Korea.)
If you are wondering what the gift tax exclusion for 2009 is, it is
$133,000 to a non-resident alien spouse and $13,000 to anyone else who is not a spouse. The maximum amount that a married couple can gift to each individual is $26,000 (2 x $13,000.)
The entire gift to a charity or political organization is exempt. Payments of tuition (not room and board) and medical expenses are completely exempt if made directly to an educational institution or medical services provider. Payments to a US Citizen or resident alien spouse are also completely exempt.
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