Wealth Strategies Journal: “For a limited time, married taxpayers can make lifetime gifts of assets worth up to $10 million without paying federal gift taxes or other transfer taxes. The exemption for gift taxes, estate taxes, and generation skipping transfer (GST) taxes was fixed at $5 million per taxpayer when Congress extended the Bush-era tax cuts through 2012. Married couples can now give away up to $10 million and single people can give away up to $5 million without incurring gift or GST taxes, as adjusted for prior taxable gifts, which is a pretty powerful planning opportunity.
A Gift from Congress: Gift Up To $10 Million Tax-Free
By On the Net|2017-10-07T11:14:46-07:00December 3rd, 2011|
About the Author: On the Net
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