2019 Estate & Gift Tax Exemptions

[table id=15 /] Information for 2018 is here. Generally speaking, the Basic Exclusion Amount (BEA) is the aggregate amount a taxpayer may transfer, during life and/or at death, to persons other than spouse or charity without incurring estate or gift tax.  In...

Prepaying State and Local Taxes in 2017

Don’t bother.  The Tax Cuts and Jobs Act generally eliminates the deductions for state and local property taxes, income taxes, and sales taxes. Starting in 2018, an individual will only be able to deduct these items if they are paid or accrued in carrying on a...