Remember Other Taxes When Setting Up Your Estate Plan
As you begin your estate planning, strategies for reducing estate tax may be first on your to-do list. Or perhaps you think the current $5.45 million exclusion, combined with portability […]
3 Income-Tax-Smart Gifting Strategies
If your 2015 tax liability is higher than you’d hoped and you’re ready to transfer some assets to your loved ones, now may be the time to get started. Giving […]
Avoid Gift Treatment by Paying Expenses Directly
The annual exclusion for gifts remains at $14,000 for 2015. (Married couples can gift up to $28,000 combined.) This limit applies to the total of all gifts, including birthday and […]
Why You Need To Know The Value Of Your Assets
With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is […]
Time For An Estate Plan Checkup
Now that we’re in the new year, it’s time for an estate plan checkup. Why? First, various exclusion, exemption and deduction amounts are adjusted for inflation and can change from […]
Make The Most Of Annual Exclusion Gifts
Recently, the IRS released the 2014 annually adjusted amount for the unified gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption: $5.34 million (up from $5.25 million […]
Tax Filing Responsibilities of Estate Executors
Part of your responsibility as the executor or personal administrator of an estate involves making sure the necessary tax returns are filed — and there might be more of those […]
529 Plans Offer Tax Benefits
It’s fun to imagine what your child’s future holds. If college is part of your dream, you may also be thinking about how to pay for tuition. One way is […]
The Tax-Efficient Graduation Gift
With commencement ceremonies for high school seniors coming up, many parents and grandparents are contemplating making cash gifts the student can use for college expenses. But if gift and estate […]
Do You Need to File a Gift Tax Return?
Generally, you’ll need to file a gift tax return if, during the tax year, you made gifts: That exceeded the $13,000-per-recipient gift tax annual exclusion (other than to your U.S. […]