Estate and Gift Tax Consequences of the Tax Cuts and Jobs Act
On December 22, 2017 President Trump signed the Tax Cuts and Jobs Act which became effective January 1, 2018, although many of its provisions will sunset on December 31, 2025. Most of the changes under the Act affect the federal corporate and personal income tax,… Read More
Federal Estate Tax Inflation-Adjustments for 2018
Throughout the federal tax code there are figures which are inflation-adjusted – meaning they go up when there is inflation and they go up more when there is more inflation. The adjusted figures for the coming year are generally announced in October of the current… Read More
Clinton Proposes Estate Tax Increase on Super-Rich
As reported in an article from today’s (September 23, 2016) Wall Street Journal, Democratic presidential nominee Hillary Clinton has proposed an increase in the federal estate and gift tax. She would lower the federal estate tax exemption from the 2016 amount of $5,450,000 per individual… Read More
Disappearing Discounts
While the federal estate and gift tax used to be assessed at a maximum rate of the confiscatory fifty-five percent (55%) (and for a few years and for very large estates, an astounding sixty-five percent (65%)) it is now at the historically low figure of… Read More