Tag Archives: gifting

Tax Changes for 2013–Fiscal Cliff Deal Finalized

CCH recently released a fantastic Tax Briefing on the legislation passed to avoid the tax die of the Fiscal Cliff.  There were some significant changes to the tax law, as well as avoidance of some terrible sunsets.  I think my personal opinion of the deal would be better suited for another post.  Below are someContinue Reading

IRS Increases Annual Gifting Exclusion for 2013

The Internal Revenue Service recently published various inflation based adjustments.  Among the two dozen tax provisions affected was the Annual Gift Exclusion amount.  The amount you can gift to someone has increased from $13,000 in 2012 to $14,000 in 2014. What is the Annual Gift Exclusion Amount? In the United States a person with interests/assetsContinue Reading

Treat Yourself with Holiday Gifts

You might have already heard holiday music playing on the radio.  Thanksgiving is right around the corner, and with it, the biggest shopping day of the year, Black Friday followed closely by Cyber Monday.  However, don’t just go out and blindly spend your money buying gifts.  Instead, why not buy a gift of experience forContinue Reading

What is a Grantor Retained Annuity Trust and What Does it Have to do With Facebook?

I am a little late to the story, but I was shocked to learn that a few of the Facebook founders used an estate planning technique known as a Grantor Retained Annuity Trust (GRAT) to help their future heirs save on estate taxes. It is very long term planning considering those mentioned in the articleContinue Reading

2012 Gift Tax Exemption and Exclusion Amounts

DISCLAIMER: Estate and Gift Taxes are an entire semester at law school and probably for your local accountant as well so this is just a brief introduction into the exemption amounts that are currently Available in 2012.  Even the Internal Revenue Service understands how complicated estate and gift taxes can be come so they haveContinue Reading

Gift Laws and Taxes Made Simple

Most people just assume they can give away whatever they want in any situation; that is just not true. Ignoring gifting laws and taxes can cost you and your family a lot of money!  When gifting large sums of money there are federal tax implications one should keep in mind. Gift Tax Introduction What is aContinue Reading