estate tax exemption

transfer wealth

Current Conditions are Favorable for Cost-Effective Wealth Transfers

The ongoing novel coronavirus (COVID-19) pandemic has taken a terrible toll on the economy. But the current low-interest-rate environment coupled with depressed asset values means that now may be a good time to transfer wealth to your children and grandchildren. Consider making gifts For 2020, the federal gift and estate tax exemption is an inflation-adjusted…

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gift tax return

The 2019 Gift Tax Return Deadline is Coming Up

If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2019 gift tax return. And in some cases, even if it’s not required to file one, it may be beneficial to do so anyway. Who must file? Generally, you must file…

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November/December 2019 Tax Tips

Case highlights state taxation of trust income In a recent case, the U.S. Supreme Court ruled that the presence of trust beneficiaries in North Carolina did not, by itself, empower the state to tax income earned by an out-of-state trust. The court noted that the trust didn’t have a physical presence, make any direct investments…

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