Estate Tax

The Internal Revenue Service has so many tax laws that people may struggle to remain informed. One rule that could prove beneficial to people is the gift tax. Taxpayers are able to give $13,000 per year to as many donees as they desire, as long as the gift is deemed present interest by the IRS, [...]

READ MORE SHARE
COMMENTS
Estate Tax

Many affluent Americans, investors and business owners were pleased when the federal estate tax law was changed, allowing for a $5.25 million estate tax exemption for individuals and $10.5 million for joint filers. However, many people who are focusing on retirement and going through the process [...]

READ MORE SHARE
COMMENTS
Business Tax

An estate may, in certain circumstances, elect to pay estate tax in a series of payments over a number of years. This election is available to estates in which assets are used in an active trade or business comprise more than thirty-five percent (35%) of the estate. Payment of estate tax can be [...]

READ MORE SHARE
COMMENTS
Assets

Decanting is a popular topic among wealth advisers, trust companies, and tax professionals.  In the wine industry, it means putting old wine into a new bottle.  In the trust field, it means to transfer assets to a new trust to be governed by a new trust instrument that takes into account changes [...]

READ MORE SHARE
COMMENTS