Gift tax

Tax

How to Make the Most of the Federal Annual Gift Tax Exclusion

If you want to pass wealth to beneficiaries and save on taxes, sometimes the easiest way is the best.
Wealth management

How to Save on Taxes by Sharing the Wealth with the Family

When gift givers transfer ownership of income-producing property that has gone up over the years, everyone can win.
Tax

How to Trim Taxes While Playing Santa

There are tax-advantaged ways to give, if you know the subtle rules. The $14,000 annual exclusion and $5,340,000 lifetime max do not have to be rigid limits, if you know some workarounds. In one important case, the IRS ruled in the taxpayer's favor.
Tax

IRS Won't Concede on 'Wandry Clauses'

Earlier in the year, the Tax Court allowed a taxpayer to use a formula clause to determine the value of a business interest for gift tax purposes (TC Memo 2012-88). But the IRS refuses to knuckle under to the court.

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