Category: gift tax annual exclusion amount

When to Gift – Now or Later? (The Step-Up in Basis Dilemma)

by Robin Miskell | Jun 4, 2018

The estate and gift tax exemption was raised to $11,180,000 per person for 2018, and will increase based on inflation each year until 2026 when it will return to the amount before it was increased (approximately $6,000,000), but...

KNOWN UNKNOWNS about Federal Tax Laws and Regulations

by taxblog | Feb 9, 2017

By: Henry Grix The new administration in Washington, supported by Republican majorities in Congress, has pledged substantial changes to federal tax laws and regulations. One change may – or may not...

Federal Gift, Estate Tax and Generation-Skipping Transfer Tax Exemptions & the Gift Tax Annual Exclusion Amount Are Subject to Annual Increase for Inflation

by taxblog | Jan 30, 2017

By: Tip Richmond The exemptions were increased in 2017 from $5,450,000 to $5,490,000, and the annual exclusion remains the same at $14,000 per donee. These rules mean the following: ...

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Tax Blog is published by Dickinson Wright PLLC to inform the public of important developments within the firm and practice areas. The content is informational only and does not constitute legal or professional advice. We encourage you to consult a Dickinson Wright attorney if you have specific questions or concerns relating to any of the topics covered in this blog.