Federal estate and gift tax rules are poised for a major shift in 2026, affecting how much wealth families can transfer ...

The new year 2026 or straightforward concept. number 2026 written on the road in forest. planning and challenge, business ...

I sometimes receive a call from a client inquiring about the rules on giving gifts to friends and family. They want to find out if there are any tax deductions and tax implications for gifting. There ...

Most taxpayers, from individuals to married couples, are unfamiliar with the concept of the gift tax. The government assesses this tax on certain transfers of money or other assets from one person to ...

As of January 2023, the annual gift tax exclusion amount has increased to $17,000. That is the amount you can gift to any one person each year free of any tax implications. For years the amount was ...

Perhaps you were generous and gave your son $30,000 last year as a downpayment on a house. You may be surprised to find out that the state of Connecticut charges tax on lifetime gifts and that the ...

For 2023, the annual gift tax exemption is $17,000, up from $16,000 in 2022. This means you can give up to $17,000 to as many people as you want in 2023 without any of it being subject to the federal ...

With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes so ...