IRS Announces 2025 Tax Brackets, Standard Deductions And Other Inflation Adjustments
The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and ...
Investopedia12d
Gift in Trust: What It Is, How It Works, Pros and Cons
The purpose of a gift in trust is to avoid gift/estate taxes, as there is a lifetime gift/estate tax exemption limit. For 2025, that limit is $13.99 million. There's also an annual gift exclusion ...
Yahoo Finance11d
I Want to Give My Son $75,000 for a Home. Will the Gift Tax Apply?
However, both the gift tax and estate tax only apply to very wealthy households. That’s because, throughout your life, the IRS allows you to give away a certain amount of money and assets free ...
JD Supra15d
Understanding IRS Private Letter Ruling 202504006: Crucial Takeaways for Tax Planning
The Internal Revenue Service (IRS) recently issued Private Letter Ruling (PLR) 202504006, addressing several important estate and gift tax ...
Kiplinger6y
Gift Annuity Offers Tax Break and Retirement Income
Donor-advised funds and qualified charitable distributions have grabbed the spotlight for charitable giving under the new tax ... gift annuities in charitable giving; the council publishes rate ...