Taxes
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Understanding Gift Tax and Form 709: 2025 Exclusions and Exemptions
Gifts without equal return may be taxable and must be reported on Form 709 when they exceed the $19,000 2025…
Understanding Gift Tax Exemptions and Deductions in 2025
Follow a four-step approach: try exempt transfers (medical, tuition, political), use the annual exclusion ($18,000 in 2025), then apply marital…
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 give $36,000…
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 estate. Use…
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 estate, add…
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 and elect…
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 estate and…
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 inclusions: life…