In 2017 Gift and Estate Tax Might Go Away

Gift Tax The life­time gift exclusion is $5,450,000. Any amount in excess of this threshold is taxed at 40%. The annual gift exclusion remains $14,000 per person per year. Inheritance Tax/Estate Tax and Planning The life­time estate exclusion is $5,450,000. Any amount in excess of this threshold is taxed at 40%. The estate portability, by […]