Transferring Family Assets to Minors

For 2020, an individual can gift up to $15,000 to another person in a year without needing to file a gift tax return.  Gifts in excess of the $15,000 limit are tracked through gift tax return filings and reduce the lifetime gift exclusion.   For this year, the exclusion is $11.58 million per person but could [...]

By |2021-01-22T17:07:51+00:00January 22nd, 2021|Estate Planning, Tax Planning|0 Comments

Savvy Giving: Tax Strategies for Charitable Contributions

The season of giving is upon us! Did you know that approximately 1/3 of all charitable giving occurs in December each year? As you are considering your year-end donations, we wanted to provide you with tax strategies to optimize your tax benefits. You may be uncertain if there are still tax advantages to charitable giving [...]

By |2019-10-22T14:52:10+00:00November 13th, 2019|Charitable Contributions, RMD, Tax Planning|0 Comments