Each individual has a lifetime exemption that they can use to transfer assets either during their lifetime or at their death without incurring any federal estate or gift taxes. The 2017 Tax Act ...

Unfortunately, this scenario may not play out as intended, but it does have some potential benefits. Taxes on gifts and ...

The current exemption on the federal (lifetime) gift tax and estate tax are set to sunset at the end of 2025. Unless Congress acts to forestall the sunset, the exemption will revert to regulations as ...

Imagine you have $50,000 to give to your daughter and her husband for a down payment on their new home. The question is, will you owe gift taxes because of your generous gesture? Despite popular ...

As part of the Tax Cuts and Jobs Act of 2017, the lifetime estate and gift tax exemption — how much money a taxpayer could give away before paying estate tax — was doubled. Before 2017, the maximum ...

Clients are often interested in gifting to their loved ones not only to benefit the recipient of the gift, but also to reduce the donor’s taxable estate for estate tax purposes. Every taxpayer can ...

In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but ...

The most significant tax overhaul since 2017 creates unprecedented opportunities—but only for those who act before December ...

Each year, a person may gift thousands of dollars to as many different persons as that person desires, without triggering U.S. gift tax or using one’s lifetime exemption. In 2024, the annual gift tax ...

Art is an asset class that comes with its own set of tax implications and complications. Photo by Fatih Aktas/Anadolu via Getty Images The wealthiest among us—in economist talk, ultra-high-net-worth ...

With the Tax Cuts and Jobs Act (TCJA) sunset provision set to expire December 31, 2025, America’s wealthiest families may have just six months to transfer up to $28 million tax-free. Without ...

The annual $10,000 gift tax exclusion will increase to $11,000 this year, and anyone who has an estate vulnerable to estate taxes or who is funding high-cost college expenses should consider using ...