Gift Tax Reminders
As the fourth quarter approaches, it is useful to remind clients about gift tax considerations, as they consider possible gifting plans before the end of the year. First, effective on January 1, 2018, the annual gift tax exclusion has increased to $15,000 per person, per year, up from $14,000 in recent years. Second, the lifetime exclusion for gift (and estate) tax purposes is $11,180,000, ...