gift tax

Tax Basis Planning Worth a Look if Estate Taxes Aren’t a Threat

Tax Basis Planning Worth a Look if Estate Taxes Aren’t a Threat

For many people today, income tax planning offers far greater tax-saving opportunities than gift and estate tax planning. A record-high gift and estate tax exemption — currently $5.49 million ($10.98 million for married couples) — means that fewer people are subject to those taxes. If gift and estate taxes aren’t

Sonya Foster2021-04-12T14:57:40-06:00October 12th, 2017|

How to Determine if You Need to Worry About Estate Taxes

How to Determine if You Need to Worry About Estate Taxes

Among the taxes that are being considered for repeal as part of tax reform legislation is the estate tax. This tax applies to transfers of wealth at death, hence why it’s commonly referred to as the “death tax.” Its sibling, the gift tax — also being considered for repeal —

Sonya Foster2021-04-12T14:57:42-06:00August 31st, 2017|