Articles
2013 Estate Tax Exemption is $5.25 Million
The 2013 estate tax exemption is $5,250,000 and the tax rate above that is 40%. The exemption is set to change with changes in the cost of living. In general, estate taxes are taxes imposed on the value of assets which you own when you die. Generally, if the net value of your assets… Read More »
Tax Free Gifts
Each donor may give $14,000 each year to each beneficiary, without any gift tax consequences. (Prior to 2002, this “annual exclusion” was $10,000, and from 2002 to 2005 it was $11,000, from 2006 to 2008 it was $12,000, and from 2009 to 2012 it was $13,000.) In addition, without gift tax, you can pay… Read More »
