03 Dec What the 2015 Inflation Adjustments for the Estate Tax Exemption and Trust Income Tax Brackets Mean for You

The Internal Revenue Service has released the official inflation adjustments that will affect 2015 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes. 2015 Federal Estate Tax Exemption In 2015 the estate tax exemption will be $5,430,000.  This is an increase of $90,000 above the...

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30 Nov 2015 Changes to State Death Taxes

Although Colorado doesn't collect an estate tax, if you own property or have heirs in one of the 20 jurisdictions listed below, then you may have a state death tax issue that requires planning. Currently 20 U.S. jurisdictions collect a death tax at the state level:  Connecticut, Delaware, the District of Columbia,...

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25 Nov Year End Estate Planning Tip #5 – Make Gifts that Your Family Will Love but the IRS Won’t Tax

Don’t let the chaos of the holiday season prevent you from avoiding federal gift tax by making “annual exclusion” gifts, medical payments gifts, and educational gifts. Make Annual Exclusion Gifts “Annual exclusion” gifts are transfers of money or property in an amount that does not exceed the annual gift tax exclusion. In 2014,...

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04 Nov Help! – Long Distance Caregiving

Did mom and dad settle down somewhere warm? Maybe you left home 20 years ago to pursue a career. Regardless of the events that led to you living away from your parents, you suddenly face the challenge of caring for them from a distance. Whether you are a two-hour drive or a...

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