Category Archives: Estate Tax

Estate Tax

Gifting a Personal Residence – Tax Saver or Tax Folly?

Many people believe that gifting a personal residence to their children will help reduce their estate taxes. However, because the federal estate-tax exclusion amount is currently set so high ($5,340,000 in 2014), very few people can expect to have federally taxable estates. As a result, unless state estate taxes are a concern, the smart tax move…
Read more

Caution: This Estate Includes IRD

Caution: This Estate Includes IRD, here's a fictional story you may find interesting if you're planning your estate. Ted’s Tale Ted was a successful executive. He had a large estate when he died, all of which he left to his two children, Tina and Tom. Under Ted’s estate plan, Tina will receive land valued at…
Read more

It’s Back! – Repeal of the Federal Estate Tax

It's Back - Repeal of the Federal Estate Tax, as widely anticipated, the "repeal" of the federal estate tax has proven to be short-lived. And there are some new wrinkles in our transfer-tax laws, courtesy of the 2010 Tax Relief Act. Here's what you need to know. 2010 Estates Tax Rates Taxpayers inheriting assets from individuals…
Read more