lifetime exemption

The Clock is Ticking on the Gift Tax Exemption

American families only have until midnight of December 31, 2012 to pass along assets amounting up to $5.12 million without fear of being taxed by Uncle Sam. Couples can give a combined gift of up to $10 million to their children – tax free.  For wealthy families, this is a golden opportunity that should not be

Act Now — Gift Tax Exemption

The article Is It Time to Panic About the Gift Tax Yet? by Kelly Greene was posted on the November 16, 2011 online edition of the Wall Street Journal. It advises people to act now in order to take advantage of the $5 million lifetime gift-tax exemption before Congress amends the limit again. The article also includes

2011-11-30T00:10:03-08:00November 30th, 2011|Tags: , , , , , |

Is Now the Time to Start Giving Away the Family Business?

Is Now the Time to Give Away the Business? This Wall Street Journal article from the excellent "You're the Boss" blog describes how the new 2010 tax laws concerning estate and gift taxes have created an excellent opportunity for some business owners to transfer large chunks of their businesses to family members without incurring estate or

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