by Christine | Oct 19, 2012 | Gift Tax, GIfting |
For those weighing what to do with the assets they have accumulated over a lifetime, the next few weeks may be time to make the final call. That’s because the current federal tax exemption on estates and gifts is set to roll back on Jan. 1 from $5.12 million to $1...
by Christine | Oct 18, 2012 | 2013, Estate Planning, Gift Tax |
Next year, that $13,000 limit on gifts is expected to increase to $14,000—an inflation adjustment required by law. The number isn't yet official—and won't be until later this year when the Internal Revenue Service will announce this and many other inflation...
by Christine | Sep 4, 2012 | 2013, Estate Law, Estate Tax, Gift Tax, Trusts |
“You Must Act Now!” “The Now Moment Has Arrived.” Late-night infomercial pitchmen? Nope. Wealth planners breathlessly warning prospective clients that they have only until Dec. 31 to seize a “historic” opportunity to transfer millions to kids and grandkids, tax free....
by Christine | Aug 24, 2012 | Estate Planning, Gift Tax, GIfting |
You can give away as much as $13,000 during the year to anyone you want—and to each of as many people as you choose—without any tax considerations. These gifts can be to family members, friends or even complete strangers. Gifts are thought to be simple. However, if...
by Christine | Aug 15, 2012 | Alzheimer's, Appraisal, Charitable Giving, Estate Planning, Gift, Gift Tax |
"We're sort of in a perfect storm right now because the gift tax exemption is higher than it's ever been, and the value of businesses are at an all-time low, which makes it a perfect time to gift them," says Karen Goldberg, president of the Estate...
by Christine | Jul 26, 2012 | 2012, 2013, Estate Planning, Gift Tax |
TIME may — or may not — be running out for one of the biggest tax breaks for wealthy Americans: the chance to give up to $5.12 million to heirs tax-free and then pay a comparatively low 35 percent rate on any gift above that. The break is scheduled to expire in six...
