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How Much Money Can I Give Without Paying Gift Tax?

Under our nation’s federal tax regulations, it is the person making a gift (the donor) who is responsible for any federal gift tax that is due. The…

Do I Have To Pay Taxes On An Inheritance From A Foreign Relative?

If you have close relatives, like parents, who are citizens and residents of a foreign country, there is a chance you might receive a gift or inheritance from…

Did the Tax Cuts and Jobs Act Preserve the Step-Up in Basis?

Under our country’s tax laws, it is the person making a gift (the donor) who is responsible for any gift tax that is due. The gift’s recipient…

The State of the Estate Tax After Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act was signed into law on December 22, 2017. It represents the most significant tax overhaul in decades. Although efforts by the…

Will My Estate Have to Pay an Estate Tax?

NB: For information on the current state of the estate tax in light of the Tax Cut and Jobs Act, click here. One of the biggest issues…

2016 Gift and Estate Tax Limits

The IRS recently announced the estate and gift tax limits for 2016. In 2016, the exemption amount for individuals increased from $5.43 million to $5.45 million, which…

IRS Recognizes Same-Sex Marriages For Federal Tax Purposes

A couple of months ago, after the Supreme Court ruled that Section 3 of the Defense of Marriage Act was unconstitutional, I explained that there was…

Estate Tax Certainty…For Now

NB: For information on the state of the estate tax in light of the Tax Cut and Jobs Act, click here. For…