As family offices continue to adapt to economic, financial, and technological changes, several ongoing developments are giving family offices plenty consider heading into 2025, including gift and estate tax exemptions, which...more
The US Internal Revenue Service (IRS) has announced that the annual gift tax exclusion is increasing in 2025 due to inflation. The exclusion will be $19,000 per recipient for 2025—the highest exclusion amount ever....more
The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever....more
Massachusetts Governor Maura Healey signed a bill on October 4, 2023 amending the state’s estate tax law.
INCREASED MASSACHUSETTS ESTATE TAX EXEMPTION AMOUNT
For individuals dying on or after January 1, 2023, the new law...more
The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing next year due to inflation. The exclusion will be $17,000 per recipient for 2023—the highest exclusion amount ever. Further, the...more
The Internal Revenue Service has announced that the annual gift tax exclusion is increasing next year due to inflation. After four years of being at $15,000, the exclusion will be $16,000 per recipient for 2022—the highest...more
The Democrats of the House of Representatives have released a much-anticipated tax plan that would significantly impact the federal estate and gift tax system. Importantly, the House could still amend this legislation and the...more
9/21/2021
/ Biden Administration ,
Closely Held Businesses ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Grantor Trusts ,
Income Taxes ,
Life Insurance ,
Spousal Lifetime Access Trust (SLAT) ,
Tax Planning