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Federal Estate Tax Proposal 2021 -> Proposed Build Back Better Act

Posted in Estate Planning, Tax News on December 8, 2021

This article is original content written by local Manchester, CT CPA firm Borgida & Company, P.C. staff accountant Norbert Jurkiewicz. Pending Legislation: Proposed Build Back Better Act Affects Estate and Gift Tax Planning   Background On December 22, 2017, President…

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Happy New (Tax) Year…Unlucky ’13?

Posted in Tax News on January 2, 2013

  The New Year’s celebrations are over. It’s on to 2013. Will this be unlucky 2013 for taxpayers? We wrote earlier how there are 8 Reasons You Will Pay More Taxes in 2013…Guaranteed. We also pointed out Why the Fiscal…

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The Last (Really BIG) Tax-Free Gift

Posted in Tax News on December 10, 2012

Under current federal estate tax law there is an exclusion up to $5.12 million in 2012. Taxable estates above this amount are taxed at 35%. This exclusion is scheduled to decrease to $1 million beginning in 2013. The tax rate…

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Why the Fiscal Cliff is Fiscally Irresponsible

Posted in Tax News on December 3, 2012

  The Federal Government and the country are set to go off the Fiscal Cliff on New Year’s Day.   The term Fiscal Cliff refers to number of laws that if they remain unchanged, could result in significant tax increases…

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How to Maximize Your Annual Gifts and Minimize Your Estate Taxes

Posted in Tax News on February 15, 2012

Annual Exclusion Taxpayers are allowed to gift up to $13,000 per year to an unlimited number of people without having to file a gift tax return or pay a gift tax. If the amount goes over $13,000 to any one…

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