by Joel Roettger | Apr 6, 2023 | Estate Planning, Tax
In October 2022, the IRS released Rev. Proc. 2022-38, which sets forth inflation-adjusted items for 2023 for various provisions of the Internal Revenue Code. Some items of interest from an estate planning perspective are the following: Edit Estate Tax Exemption...
by Joel Roettger | Sep 14, 2021 | Estate Planning, Tax, Trusts
UPDATE 2 (11/4/2021) The House Committee on Rules published a new version of the reconciliation bill, H.R. 5376. The latest draft is 2,135 pages. As with the October 28 draft, provisions related to the estate, gift, and generation-skipping transfer taxes are...
by Joel Roettger | Jan 4, 2021 | Estate Planning, Tax
In October 2020, the IRS released Rev. Proc. 2020-45, which sets forth inflation-adjusted items for 2021 or various provisions of the Internal Revenue Code. Some items of interest from an estate planning perspective are the following: Edit Estate Tax Exemption...
by Joel Roettger | Jan 9, 2020 | Estate Planning, Tax
Edit Estate Tax Exemption (“Basic Exclusion Amount”) $11,580,000 Applicable Credit Amount $4,577,800 Generation-Skipping Transfer (GST) Tax Exemption $11,580,000 Gift Tax Annual Exclusion $15,000 Taxable Income Threshold at which Highest Rate Applies for...
by Joel Roettger | Dec 26, 2019 | Estate Planning, Retirement Assets, Tax, Trusts
Estate planning for retirement assets just got more interesting. The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was signed into law on December 20. It was passed as part of H.R. 1865, Further Consolidated Appropriations Act, 2020. The...
by Joel Roettger | May 9, 2019 | Tax
The new law applies to gyms, fitness centers, fitness studios, high intensity interval training, cross training, ballet barre, pilates, yoga, spin classes, and aerobics classes. In a previous post, we noted that in June 2018 the Tennessee Department of Revenue issued...
