Should a Tax Apportionment Clause Be in Your Estate Plan?
Even though the federal gift and estate tax exemption is currently very high ($11.7 million for 2021), there are families that still have to contend with significant federal estate tax
Even though the federal gift and estate tax exemption is currently very high ($11.7 million for 2021), there are families that still have to contend with significant federal estate tax
It is tax filing season and you are likely focused on your income or business tax returns. However, do not forget about another type of return. In 2020, if you
Now that the gift and estate tax exemption has risen to $11.7 million for 2021, you may be less concerned about these taxes. However, if you have children or grandchildren
As President-elect Joe Biden moves forward with the transition and prepares for the inauguration next month, you may be wondering how the federal estate tax may be affected. During the
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much
With the federal gift and estate tax exemption now at a record high $11.58 million for 2020, most estates are not taxable. However, that does not mean making lifetime gifts
The annual gift tax exclusion allows you to transfer up to $15,000 per beneficiary gift-tax-free for 2020, without tapping your lifetime gift and estate tax exemption. And you can double
You may have heard that the federal income tax filing and payment deadline has been extended from April 15, 2020 to July 15, 2020, to provide relief for taxpayers adversely
If you made large gifts to your children, grandchildren, or other heirs last year, it is important to determine whether you are required to file a 2019 gift tax return.
For 2020, the lifetime gift and estate tax exemption has reached a whopping $11.58 million ($23.16 million for married couples). As a result, few people will be subject to federal