by Boyd Johnson on January 1, 2009
As a reminder for estate planners, two new numbers you should be aware of in 2009:
- The federal estate tax exemption amount is now $3.5 million (Minnesota’s remains unchanged at $1 million).
- The annual gift tax allowance is now $13,000 (the lifetime gift tax exemption is frozen at $1 million).
Categorized in In the News, Practice Tips and tagged as estate tax, gift tax
by Boyd Johnson on November 3, 2008
The IRS has now released its tax statistics for estate, gift, and fiduciary income tax returns for 2007. These statistics are interesting from the standpoint of viewing and predicting tax filing trends over time.
Categorized in In the News and tagged as 1041, estate tax, fiduciary income tax, gift tax, IRS