Understanding the 2024 Annual Gift Tax Exclusion and Gift Splitting
In 2024, donors can give $18,000 per recipient tax‑free if it’s a present interest; married couples can jointly…
Articles by & updated by Sai Sankar
Taxable Estate Deductions: Funeral, Debts, Admin Costs, Marital
Claim allowable deductions—funeral, debts, administrative, marital (with QDOT for non‑citizen spouses), charitable, state taxes, casualty—to lower the taxable…
Understanding the 2025 Unified Credit in Estate Tax Calculations
The 2025 estate tax exclusion is $13.61 million per person with a 40% top rate. Executors compute taxable…
Filing Form 706: Estate Tax Return Rules, Deadlines, and DSUE
In 2025, estate tax activity increased as families file Form 706 to lock in the $13.99 million exemption…
Understanding the Alternate Valuation Date: Six Months After Death
The alternate valuation date lets an estate value assets six months after death if it lowers both gross…
Gross Estate: FMV at Death and All Included Property
Gross estate equals the decedent’s fair market value interests at death, often leading to Form 706 reporting. Key…
GST Tax Essentials: Rates, Exemptions, and Filing for 2024–2025
The GST tax remains a separate 40% levy with a $13,610,000 (2024) exclusion still effective as of Oct…
Portability of DSUE: Essentials of the Deceased Spousal Election
Survivors can use DSUE only if the spouse died on/after Jan 1, 2011, was a U.S. citizen/resident, and…
Estate Tax Form 706: 2024 Exclusion, Credit, and Rates
Estates for 2024 deaths must file Form 706 if taxable estate plus lifetime taxable gifts exceed $13,610,000. Filing…