by Arthur Geffen | Jan 9, 2019 | Estate Tax, Gift Tax
The IRS has published new guidelines relating to estate and gift tax changes for 2019. Starting this year, estates of decedents who die during 2019 have a basic estate tax exemption amount of $11,400,000 (increased from $11,180,000 in 2018). This means that the estate...
by Arthur Geffen | Dec 3, 2018 | Gift Tax, Gifts
If the holiday spirit is encouraging you to gift millions of dollars to family members, it’s time to start sharing the wealth. The Tax Cuts and Jobs Act increased the gift and estate tax exemption — also known as the basic exclusion amount — to $11.18...
by Arthur Geffen | Jul 5, 2018 | Estate Tax, Gift Tax
So how can your clients have their cake and eat it too? To plan better, advisors first need to identify how a client’s goals might be different today because of the 2017 tax changes. They may want to consider the following strategies: The current estate, gift...
by Arthur Geffen | Oct 31, 2014 | Estate Tax, Gift Tax
The Internal Revenue Service announced the 2015 estate and gift tax limits today, and the federal estate tax exemption rises to $5.43 million per person, and the annual gift exclusion amount stays at $14,000. These numbers, adjusted annually for inflation,...
by Arthur Geffen | Nov 1, 2013 | Annual Exclusion, Gift Tax, Gifts
As many estate planners anticipated, the Internal Revenue Service has raised the limit on tax-free transfers during life or at death. Starting in 2014 that amount, known as the basic exclusion, will go up to $5.34 million per person, from $5.25 million this...
by Arthur Geffen | Jun 22, 2012 | Gift Tax, Gifts
TIME IS RUNNING OUT 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...
