The IRS recently announced that the annual gift tax exclusion is increasing to $18,000, per recipient for 2024. This is the highest the exclusion has ever been. This change is effective January 1, ...
Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules.
The One Big Beautiful Bill Act (OBBBA) permanently raises the estate and gift tax exclusion to $15 million per person, beginning in 2026, and is indexed for inflation. These changes may affect estate ...
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