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2023 will bring greater potential for estate and gift tax savings

by Arthur Geffen | Oct 12, 2022 | Estate Planning, Estate Tax, Gift Tax, Gifts

US Taxpayers enjoy a lifetime gift and estate tax exemption. This is the amount a person can transfer at death or during life without triggering a transfer tax. The exemption amount for 2023 is set to rise $860,000 to $12,920,000 per person ($25,840,000 per married...

So You Used Up All of Your Gift and Estate Tax Exemption, Now What?

by Arthur Geffen | May 12, 2022 | Estate Tax, Gift Tax

Over the last couple of years, as there was concern that the gift and estate tax exemption (along with the related generation-skipping transfer tax exemption) would be reduced back to pre-2017 levels, many individuals made gifts or other transfers to utilize their...

IRS proposes to amend estate and gift tax basic exclusion regs.

by Arthur Geffen | Apr 27, 2022 | Gift Tax

The IRS issued proposed regulations Tuesday (REG-118913-21) that would provide an exception to the anti-“clawback” special rule that preserves the benefits of the temporarily higher gift and estate basic exclusion amount. The regulations would apply to...

After The Georgia Runoff What Tax Planning Should You Do NOW?

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...

Estate Tax Planning and the Often-Overlooked Power of the “Med-Ed Exclusion”

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...

Now’s The Time To Take Advantage Of Transferring Or Selling Assets

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...
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Blog Posts

  • Future Returns: Turning Low Stock Prices Into a Plus for Estate Planning March 15, 2023
  • Grantor Trust: Tired Of Paying Income Tax On Trust Income? February 9, 2023
  • With Rising Interest Rates, Charitable Remainder Trusts Are Gaining Popularity January 4, 2023
  • WISHING ALL A HAPPY AND HEALTHY NEW YEAR December 30, 2022
  • Chart Shows Estimated 2023 IRS Tax refund dates – When Will You Get Your Refund? December 27, 2022

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