Today’s high estate and gift tax exemptions could be slashed in a few years. Maximize those and other benefits now.
When the 7520 rate is low—as it has been for 15 years—opportunities for good planning abound. However, what about when the rate is high? Few estate planners have needed to ask themselves that question until very recently.
It may be better to give than to receive. However, it may be even better to give and see your generosity rewarded.
With a charitable tax deduction, you can donate to a good cause and cut your tax bill at the same time.
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
Ultra-wealthy Americans can soon protect more assets from federal estate taxes, the IRS announced this week.
Doing some ‘upstream’ planning now will take the guesswork out of what’s coming your way.
If you need to withdraw funds from an individual retirement account or 401(k) account before age 59 1/2, there’s usually a 10% early withdrawal penalty.
Portability allows spouses to combine their exemption from estate and gift tax. This allows a surviving spouse to use the unused estate tax emption of the deceased spouse.
Avoidance of estate taxes is one consideration in estate planning.
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