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Year End Estate Planning

Grab The $5M Gift And Estate Tax Perk: It's Gone In 2013

Posted on: December 13th, 2012
Think infomercial. This is a special limited time offer! Procrastination is understandable, especially about taxes and mortality. Yet it’s still surprising most people haven’t taken advantage of the incredibly favorable estate and gift tax law expiring in 2012. See It Pays To Plan For Future Estate Tax Changes. Move up http://i.forbesimg.com t Move down Like A Jedi, Sell A Business, Real Estate Or Stock This Year Robert W. Wood Contributor 30 Million Taxpayers Face Alternative Minimum Tax Right Now Robert W. Wood Contributor When Estates Don't Pay Tax, IRS Chases Beneficiaries Robert W. Wood Contributor Undisclosed Foreign Bank Accounts? They're Even More Explosive Now Robert W. Wood Contributor Congress enacted a $5 million exemption for both gift and estate taxes, but only through 2012. See Making Tax Decisions In Limbo. But wait, there’s more! Indexed for inflation, the exemption is now $5,120,000. It drops to only $1 million January 1, 2013. That’s a free pass to give away up to $5,120,000 without tax. If you are married, that’s up to $10,240,000 for a married couple with no tax. ...
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