Gift Tax

Much Ado About Nothing?

by Erika Stein Rosenhagen February 4, 2013 Estate Planning 101

Last week, I was lucky enough to see the cliff up close. Not the fiscal cliff that kept us all riveted (or not) for the month of December, but a beautiful snow covered cliff. And [...]

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Don’t Forget the Annual Gift-Tax Exclusion

by Jamie Held January 21, 2013 Taxes

Amid all the other fiscal cliff headlines and the American Taxpayer Relief Act provisions, you may have missed the annual gift-tax exclusion changes that automatically became effective January 1, 2013. The annual gift-tax exclusion increased [...]

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Permanent Estate Tax Relief

by Jamie Held January 3, 2013 Estate Planning 101

Congress passed The American Taxpayer Relief Act of 2012 on January 1, 2013.  Among its many provisions are the following pertaining to estate taxes:

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Minnesota Estate Tax Changes May Be on the Horizon

by Jamie Held December 26, 2012 Estate Planning 101

The Minnesota Department of Revenue (“DOR”) is preparing a report that analyzes Minnesota’s current estate tax laws. The report will provide the Legislature with options to consider for changes to or elimination of the estate [...]

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Valuing a gift

by Maggie Green December 22, 2012 Estate Planning 101

Scheduled to decrease January 1, 2013, the federal gift tax exemption will go from the $5.12 million to $1 million*. Many individuals have made substantial gifts this year to take advantage of the high exemption. [...]

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Don’t wait for the holidays – Gift Now!

by Maggie Green August 14, 2012 Estate Planning 101

Almost every week I receive an email from a tax or financial advisor about how my clients should take advantage of the current gift tax exemption. The exemption of $5.12 million allows an individual to [...]

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Portability & Gifting

by Jamie Held December 17, 2011 Estate Planning 101

I recently wrote about portability, specifically, what it is and how to elect it.  This post takes it one step further, discussing how portability and gifting interact.

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Baby Boomers Leaving Less to Children

by Jamie Held November 8, 2011 Estate Planning 101

I read a recent “LA Times” article and the message hit home.  My parents have been telling my sisters and me for years now that we are receiving our inheritance when we need it most [...]

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What is Portability?

by Jamie Held October 31, 2011 Estate Planning 101

2010 Tax Relief Act The 2010 Tax Relief Act (a.k.a. The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010) provided us with a $5 million federal estate tax exemption and a federal [...]

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529 Plans

by Jayne Sykora September 21, 2011 Estate Planning 101

529 plans are tax-advantaged programs that help families save for qualified higher education expenses associated with college. How are 529 Plans helpful for estate planning? Well, contributions to a 529 Plan can help you reduce [...]

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Did You File Your Gift Tax Return?

by Jamie Held April 23, 2011 Taxes

Many people are breathing a sigh of relief now that the deadline (April 18 this year) for individual income tax returns has passed.  But, did you remember to file your Form 709, United States Gift [...]

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