2016 Tax Inflation Adjustments Announced
As announced in Rev. Proc. 2015-53, IRS has announced that the following inflation-adjusted amounts are effective January 1, 2016: Annual
Category: Generation Skipping Transfer (GST) Tax
2015 Inflation Adjusted Tax Numbers
The following inflation-adjusted amounts are effective January 1, 2015: Annual exclusion from gift tax remains at $14,000 per donee. Annual
A Big Price Tag for Waiting – Using the Estate/Gift/GST Tax Exemption in 2012
Current tax law provides for Estate/Gift/GST Tax exemptions of $5 million per person ($10 million for married couple) through 2012. This means that individuals can transfer significant amounts of wealth free of estate, gift and GST tax. However, these exemptions are scheduled to be significantly reduced to $1 million ($2 million) beginning on Jan 1, 2013, leaving only a limited time to optimize any gifting strategies to capitalize on the high exemptions. However, many people aren’t comfortable giving away such large amounts, concerned that they may need it for themselves in the future. This post outlines some irrevocable trusts strategies to help deal with that concern.
Tax Law Gives Limited Window to Make Large Gifts but Without Good Advice, Many Hesitate
This online article titled “Gift Tax Exemption Jumps, But Not Everyone’s Feeling Generous,“ by Jerry Gleeson, which appeared in Registered Rep,
The End of a Dynasty?
Is the end of a dynasty coming? The WSJ recently reported that “Dynasty” trusts – or trusts that allow assets
Estate of Uncertainty
Tax planning is never easy. Death and Taxes are always certain, we just never know when they will come. According
