Proposed Changes to Estate Tax

Proposed Changes to Estate Tax Recent information regarding the proposed tax changes by the Biden Administration includes a proposal to reduce the federal estate and GST tax exemption from $11,700,000 per individual to the 2009 level of $3,500,000 per individual.  There is even a proposal to reduce the federal gift tax exemption to $1,000,000 per […]

Unified Tax Credit – What is the Unified Tax Credit and Why You Should Care

Unified Tax Credit – What is the Unified Tax Credit and Why You Should Care Each individual has the right to gift a certain amount of assets during their life or at death to other parties without having to pay gift or estate taxes. This “credit” afforded under federal law is known as the “unified […]