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...
by Arthur Geffen | Jan 10, 2012 | Estate Tax, Gift Tax, Gifts
The recent stock market decline has depressed asset values. Interest rates used in various sophisticated estate planning techniques are at historic lows. And until the end of this year it’s possible to give away up to $5.12 million per person ($10.24 million...
by Arthur Geffen | Dec 27, 2011 | Gift Tax, Gifts
Did you get any exciting gifts this holiday season? What’s not so exciting are the tax implications that may come with them. We often get questions about those implications this time of year so let’s take a look at some of the most common tax myths about gifts:...
by Arthur Geffen | Nov 30, 2010 | Gift Tax, Gifts
– December is the season of giving, but quirks in the estate tax may prompt some wealthy seniors to be especially generous this year. Without action by Congress, estate taxes are set to spike on January 1 from zero to 55 percent, the highest in a decade....
by Arthur Geffen | Sep 22, 2010 | Gifts
* Generation-skipping transfer tax has lapsed for 2010 * GST tax set to jump to 55 pct next year * Need to make gifts directly to grandkids, not a trust Wealthy U.S. families have the chance to make their grandchildren rich this year without paying hefty taxes,...
