by Arthur Geffen | Jan 11, 2021 | Estate Tax, Gift Tax, Income Tax, Tax
With the results of the Georgia runoff election in the Democrats Control the House, the Senate and the White House. So, the potential for harsh tax legislation increasing taxation of the wealthy, along the lines of prior Democratic proposals, might be likely to...
by Arthur Geffen | Nov 19, 2020 | Estate Planning Solutions, Estate Tax, Gift Tax
The current federal gift and estate tax rate is 40% and once an individual uses his or her lifetime exemption (currently $11.58 million and scheduled to drop to about half of that in 2026, perhaps sooner in light of election results) tax planning becomes difficult and...
by Arthur Geffen | Sep 17, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax
If you have an estate that may be subject to estate tax next year, particularly if the November election results in a greatly reduced federal estate tax exemption in 2021, now is the time to remove assets from your taxable estate if you can comfortably afford...
by Arthur Geffen | Sep 8, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax, Gift Tax, Gifts
The clock’s ticking for wealthy clients looking to find tax advantages when transferring assets to the next generation or selling their business—especially considering the looming, potentially watershed election. “With a possible administration change and...
by Arthur Geffen | Sep 2, 2020 | Estate Planning, Estate Tax
The federal government taxes the transfer of assets via three separate but interrelated taxes: the estate tax, which taxes the transfer of assets at death, the gift tax, which taxes gratuitous transfers during your lifetime, and the generation-skipping transfer...
by Arthur Geffen | Aug 18, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax
Estate planning entails such rudimentary concepts as having documents in place, having family discussions about testamentary dispositions and bringing in the skill sets of advisors. There are still clients who may well have issues of actually incurring gift or estate...
