2019 Estate & Gift Tax Exemptions

Estate Tax Exemption ("Basic Exclusion Amount")$11,400,000 Applicable Credit Amount$4,505,800 Generation-Skipping Transfer (GST) Tax Exemption$11,400,000 Gift Tax Annual Exclusion$15,000 Taxable Income Threshold at which Highest Rate Applies for Trusts/Estates$12,750...

7520 Rate for February 2019

Another Drop. The 7520 rate for February 2019 is 3.2%. This is an decrease from January, when the rate was 3.4%. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from declining rates. Grantor Retained Annuity Trusts (GRATs),...

7520 Rate for January 2019

The rate drops. The 7520 rate for January 2019 is 3.4%. This is an decrease from November and December 2018, when the rate was 3.6%. This is also a return to the rate that applied for July through October 2018. A chart showing historical rates since 2008 is here. Some...

7520 Rate for December 2018

Unchanged. The 7520 rate for December 2018 is 3.6%. This is the same as November. A chart showing historical rates since 2008 is here. Some estate planning techniques benefit from rising rates. These include Qualified Personal Residence Trusts (QPRTs) and Charitable...

Are Gym Fees Subject to Sales Tax in Tennessee?

Yes. See Tennessee Department of Revenue Notice #18-09 (June 2018): … dues or fees paid to health clubs or other facilities featuring exercise or other active physical fitness conditioning are subject to sales tax, unless a specific exemption applies. This...