by Arthur Geffen | Jan 2, 2018 | Dallas Estate Lawyer, Dallas Probate Lawyer, Estate Tax
The bill increases the federal estate and gift tax unified credit basic exclusion amount from US$5 million (with inflation adjustments) to US$10 million (with inflation adjustments), which means that the basic exclusion amount for 2018 will be US$11.2 million per...
by Arthur Geffen | Dec 29, 2017 | Dallas Probate Lawyer
PRIOR TO SHUTTING DOWN FOR THE REST OF THE YEAR, WE JUST WANT TO WISH EVERYONE A HEALTHY, HAPPY AN PROSPEROUS NEW YEAR! SEE YOU IN 2018!
by Arthur Geffen | Dec 21, 2017 | Income Tax
Under the new plan, taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $10,000 in total starting in 2018. Currently the deduction is unlimited. But filers have to choose to deduct either...
by Arthur Geffen | Dec 21, 2017 | Estate Tax
The tax bill, passed by the House and Senate yesterday, temporarily doubles the annual exclusion amount (the exemption) for estate, gift and generation-skipping taxes from the $5 million base, set in 2011, to a new $10 million base, good for tax years 2018...
by Arthur Geffen | Dec 19, 2017 | Deductions, Income Tax
Under the tax bill, a $10,000 deduction limit would be applied to the combined value of property taxes and state and local income taxes. The legislation also would forbid a taxpayer from prepaying part of those expenses this year, which would have been a way to...
