BLACK LIVES MATTER

Tax Planning, the Federal Estate Tax and Portability

The federal estate tax is a tax imposed on the value of assets includable in a decedent’s estate. However, each person has an exemption amount. The federal estate tax exemption is the total amount a person can transfer to any benefi ciary without paying estate tax. In 2014, the federal estate tax exemption is $5.34 […]

American Taxpayer Relief Act and Estate Planning

The American Taxpayer Relief Act of 2012 (the “Act”), which includes a variety of changes to the Internal Revenue Code, will affect most American taxpayers.  In this article, we will address the key estate tax, gift tax and generation-skipping transfer (GST) tax elements of the legislation. Prior to passage of the Act, the federal estate […]