Take Advantage of the 23.16 Million Dollar Estate, Gift and GST Tax Exemption Before It’s Gone
May 14, 2020
The 2017 Tax Cuts and Jobs Act doubled the estate, gift, and generation-skipping transfer tax exemption amounts for individuals. These valuable benefits automatically expire after December 31, 2025. A Democrat-controlled Congress and White House in 2021 could roll back exemption amounts further (and sooner) and make other big changes to wealth transfer taxes.
The increased estate, gift and GST tax exemptions may not be around long. Don’t miss out: