Year-End Estate Tax Planning
In 2013, the annual gift tax exclusion increased from $13,000 to $14,000. That is, each individual can give up to $14,000 worth of assets to any number of recipients with no tax consequences. [...]
Estate and Gift Taxes Have Been Clarified
A single, unified exemption is available to taxpayers for the estate and gift taxes. A taxpayer can use the exemption to offset otherwise taxable lifetime gifts, and the taxpayer’s estate can use [...]
Be Sure About Beneficiaries
As described in the March 2011 CPA Client Bulletin, the new tax law greatly reduces exposure to federal estate tax for most individuals and families. However, the new law does not remove the need [...]
Easing the Burden of Estate Tax
The new tax law relieves many taxpayers from concerns about federal estate tax for the next two years. What’s more, the law clarifies the treatment of estates of the people who died last year. [...]