Tags » Estate Tax

4 Things Beneficiaries Who Receive IRS Form 8971’s Schedule A Must Know

By Jacey L. Hayes

When someone inherits assets, he or she is supposed to have a tax basis in the inherited asset for income tax purposes equal to the “fair market value” of the inherited asset at the date of death. 659 more words

Tax And Trusts & Estates

Increased Estate Tax Exemption for 2017

Official numbers from Treasury will not be released until late October, but here are my projections for 2017 estate and gift tax exclusion amounts:

  • The Basic Exclusion Amount (IRC §2010(c)(3)) used to compute the Unified Credit Against Estate Tax will probably be $5,500,000; this would be an increase of $50k (or 0.9%) over 2015’s exclusion amount;
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Gift Tax


With the lifetime gift and estate exclusion now at $ 5.45 million and with the existing portability each married couple now having $ 10.9 million of total exclusion, many think that there is no need for Estate Planning. 522 more words

Estate Tax = Death Tax: Burden of our Beneficiaries

All of us will die. It is just a matter of time. Some will go sooner and some will go later. But at the end of the day, what matters is we have everything planned and covered for the people we will leave behind. 255 more words

Financial Literacy

IPO’s and Offshore private family owned hedge funds – NO CAPITAL GAINS TAXES is the attraction.

Wall Street firms love the offshore tax havens and use them all the time – every day – to completely avoid capital gains taxes. The money doesn’t even have to be sent offshore, but can remain in the same bank in New York you bank at now. 611 more words

Estate Planning Docs Part Two - Trusts

Trusts, in our opinion are most helpful for organization, directives for minors, and very useful in avoiding Estate Taxes, just to name a few.

Estate Tax Review… 616 more words

General Financial Planning

Probate and taxes are two unrelated things

I frequently teach classes on the basics of estate planning. (I do it for free, because I enjoy it, so if you want me to speak to a group of yours, please contact me!) As part of that, I often hear misconceptions about estate planning. 246 more words

Wills And Estates