Category: Tip Richmond

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: ...

The End to Discounts for Transfers of Interests in Family Business Entities

by taxblog | Aug 22, 2016

By Henry C. T. (Tip) Richmond, III One year ago in this space I advised that although talked about for years but never accomplished, the IRS was expected to issue new rules under Section 2704 of the Internal Revenue Code late...

Income Tax Planning Strategies – IRA Charitable Contributions

by taxblog | Feb 1, 2016

By Tip Richmond One of the most effective and popular income tax planning strategies has been the so-called “IRA Charitable Rollover”, which allowed taxpayers aged 70-1/2 and older to donate up to $100,000 directly from their...

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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.