Tag Archives: tax exemption
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Effective Jan. 1, 2024, the federal estate tax exemption increased to $13,610,000, or $27,220,000 for married couples filing joint tax returns. This means that individual taxpayers can transfer up to $13.61 million in assets to their heirs (or up to $27.22 million for married couples filing jointly) during life or at death without incurring federal gift […]
The inflation adjustments to various provisions of the tax code increase significantly in 2023 due partly to rising consumer prices and persistent inflation. It is important to consider these changes as you engage in estate planning and preparing for tax efficiency this year and in the years ahead. In some instances, you could find yourself […]