Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than three months (unless you file an extension). However, it’s a good idea to acquaint yourself with tax amounts that
gifting Archives - Crawford Ellenbogen
Feb 18, 2021
2021 individual taxes: Answers to your questions about limits
- By Victor Dozzi
- Taxes
- 0 Comments
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Sep 22, 2020
Making lifetime gifts continues to be a smart estate planning strategy
- By Joan Ellenbogen
- Estate
- 0 Comments
With the federal gift and estate tax exemption now at a record high $11.58 million for 2020, most estates aren’t taxable. But that doesn’t mean making lifetime gifts isn’t without significant benefits — even if your estate isn’t taxable under the current rules. Let’s examine reasons why gifting remains an important part of estate planning.
Oct 15, 2019
Take advantage of the gift tax exclusion rules
- By Ellenbogen
- Taxes
- 0 Comments
As we head toward gift-giving season, you may be considering giving cash or securities to your loved ones. Taxpayers can transfer amounts free of gift taxes to their children or others each year through the use of the annual federal gift tax exclusion. For 2019, the exclusion is $15,000 to each person. If you’re married,