Annual Gift Tax Exclusion rising to $12,000 in 2006
Category: Estate Planning, Estate and Inheritance Tax
The amount that you can give to a person without using any of your lifetime annual exclusion will increase from $11,000 to $12,000 in 2006. Between a couple, they will be able to give away $24,000 to any person with no gift tax consequences. This increase will obviously increase the effectively of any estate tax minimization strategies such as an insurance trust; children's or grandchildren's trusts; family limited partnership or family LLC transfers; etc.
The amount that you can give to a person without using any of your lifetime annual exclusion will increase from $11,000 to $12,000 in 2006. Between a couple, they will be able to give away $24,000 to any person with no gift tax consequences. This increase will obviously increase the effectively of any estate tax minimization strategies such as an insurance trust; children's or grandchildren's trusts; family limited partnership or family LLC transfers; etc.
Earn between $14.37 & $48.99 per resume writing sold, depending on the type of resume & your affiliate level. Resume Writing is our best-selling service. Click Here for more information.
DATE: 10/06/2005 07:14:00 PM
I really liked the information on your blog about tax planning I have my own tax planning exposedblog if you would like to come and see what I have on mine