Act now before historic estate, gift tax exemptions expire
Time is of the essence when it comes to estate planning. In just a couple years, the estate and gift tax exemption amounts could be cut in half, resulting in the potential loss of millions in tax savings. The Tax Cuts & Jobs Act of 2017 (TCJA) significantly increased the exemption amounts for gift and estate […]
Why it’s important to plan for income taxes as part of your estate plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted […]
Cash gifts a good way to say ‘well done’ this school year
This school year has been like no other. Students, teachers and parents have all been tested, and graduating seniors have perhaps made the biggest sacrifice by not being able to participate in commencement ceremonies. You may want to show your extra appreciation and admiration for their hard work and congratulations on a job well-done by […]