Dec 10, 2020 | Firm Updates, Tax Tips
President-Elect Joe Biden has proposed reducing the lifetime estate and gift tax exclusion. Whether you should act now to preserve the larger current exclusion depends on your personal situation. The lifetime estate and gift tax exclusion is higher than it has ever...
Oct 16, 2018 | Firm Updates, Individual Tax, Retirement Planning
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members, or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets...
Jul 30, 2018 | Firm Updates, International Tax
If you have ever sat down with your attorney or CPA to discuss estate issues, you know that estate planning involves a lot of decision making on your part. Estate planning professionals seem to have a never-ending list of options to choose from: revocable trusts,...
Jun 12, 2018 | Firm Updates, Individual Tax, Retirement Planning
The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA didn’t repeal these taxes, it did significantly reduce the number of taxpayers...
Dec 14, 2016 | Firm Updates, Individual Tax, Retirement Planning, Tax Tips
A tried-and-true estate planning strategy is to make tax-free gifts to loved ones during life, because it reduces potential estate tax at death. There are many ways to make tax-free gifts, but one of the simplest is to take advantage of the annual gift tax exclusion...
