In 2017, the federal gift and estate tax exemption was $5.49 million 1. The Tax Cuts and Jobs Act of 2017 doubled the gift ...

Warning: This column contains numbers. With the 2024 election in the rearview mirror, we may soon get some certainty ...

The shifting 2025 tax brackets include an increase to the standard deduction. For married couples filing jointly, the standard deduction will now be $30,000, up from $29,200. Single taxpayers can ...

A. The answer is yes. Payments received from both LFP and ELAP are taxable in the year the payment is received. A 1099-G will ...

“The tax benefits of a 529 plan vary by state. Many states offer a tax deduction for contributions made within the year, ...

If former President Donald Trump's tax cuts expire as scheduled at the end of 2025, one of the most significant changes will be the reduction in federal estate and gift tax exemptions. Under the ...

The federal gift tax only applies to highly affluent people who give away millions of dollars in assets or property over the course of their lives. If you want to give a child $30,000 to help pay ...

The Tax Cuts and Jobs Act of 2017, a law that increased the estate tax exemption, is scheduled to sunset next year, which could mean big changes for wealthy Americans.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D. is a Maryland State Registered Tax Preparer, State Certified Notary ...

Unless you have given away more than $13 million in your lifetime, a $75,000 gift will not trigger the federal gift ta ...

Trump's "trifecta win" ensures Americans will continue enjoyng low taxes. Low taxes should lift stocks and economic growth ...