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TAX PLANNING, TAX SAVINGS

The Wealthy Should Prepare For The Expiring Gift Tax Exemption

By The BIDaWIZ Team on May 11th, 2012 at 3:00 pm

Wealthy individuals that are seeking to pass along their wealth to their children and grandchildren need to be mindful of a major tax break that is set to expire at the end of 2012. Most of us know that we can gift up to $13,000 per year ($26,000 per married couple) to anyone tax-free. But, there is something else called the lifetime gift tax exemption that allows individuals to gift much more tax-free. .
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