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Category: Estate Tax

Estate Tax Exemptions Under The New Tax Act

Estate Tax Exemptions Under The New Tax Act

The Tax Cuts and Jobs Act (TCJA), a sweeping overhaul of the U.S. tax code, took effect at the beginning of 2018. The Act can potentially impact an individual’s estate planning, especially when it comes to leaving money to heirs and beneficiaries.While the federal estate tax, gift tax, and generation-skipping tax rate remains 40%, the amount exempt under the TCJA is now $10M for individuals and $20M for couples. Also, it is likely that these estate tax exemptions will increase with inflat […]

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