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January 19, 2024
The federal gift and estate tax exclusions and the generation-skipping transfer (GST) tax exemption increased significantly under the Tax Cuts and Jobs Act of 2017 (TCJA). Recent...
September 1, 2023
The federal gift and estate tax exclusions and the generation-skipping transfer (GST) tax exemption increased significantly under the Tax Cuts and Jobs Act of 2017 (TCJA). Recent...
February 7, 2023
On November 8, 2022, Massachusetts voters approved an amendment to the Massachusetts Constitution that implements a surtax of 4% on an individual’s annual taxable income to the extent...
March 9, 2021
Approximately $2,639,200 Approximately $7,271,200 As always, the potential estate, gift and GST tax savings should be weighed against the potential loss of the step-up of income tax basis for assets included in a decedent’s taxable estate (assuming that the Biden proposal to eliminate the step-up in basis is not enacted). Popular Wealth-Transfer Techniques to Leverage Expanded Federal Gift and GST Tax Exemptions Remain Viable – At Least For Now! Individuals who wish to reduce or eliminate f...