Resources

The new Tax Cuts and Jobs Act of 2017 (“2017 Tax Cuts Act”) P.L. 115-97, doubled the Estate and Gift tax “Applicable Exclusion Amount,” from $5 million to $10 million, for gifts made, and estates of...

The Pennsylvania Department of Human Services has revised the dollar amounts it uses to calculate eligibility for Medical Assistance Long-Term Care benefits (MA-LTC benefits). These cost-of-living inflation adjustments to...

The new Tax Cuts and Jobs Act of 2017 (“2017 Tax Cuts Act”) P.L. 115-97, doubled the Estate and Gift tax “Applicable Exclusion Amount,” from $5 million to $10 million, for gifts made, and estates of...

Pending legislation could have a major impact on the Federal Estate and Gift Tax. H.R. 1, the “Tax Cuts and Jobs Act” (“Tax Cuts Act”) released on November 2, 2017 by the Ways and Means Committee of the U.S. House of...

The new Tax Cuts and Jobs Act of 2017 (“2017 Tax Cuts Act”) signed by the President on December 22, 2017, P.L. 115-97 (115th Cong., 1st Sess.), contains important tax provisions related to estate planning. The most...

The most commonly used method for tax-free giving is the annual gift tax exclusion, which allows you to make a gift of up to $14,000 (per donor, per donee, per year) on an annual basis to each donee with no gift tax and no...

A very effective strategy to employ in order to ensure that your estate will not be subject to estate tax is to make sufficient gifts during your lifetime so that at your death your estate is smaller than the then-current...

Section 2503(e) of the Internal Revenue Code of 1986 provides for an unlimited gift tax exclusion for payments of tuition made directly by a donor to an educational institution on behalf of a student for the purpose of...

Contributions to a Section 529 College Savings Plan (“529 Plan”) do not qualify for the exclusion for tuition payments, but can take advantage of the $14,000 (soon to be $15,000) annual gift tax exclusion. The...

The payment of a beneficiary’s medical expenses is excluded from the gift tax, with no limitation on the amount excluded. To qualify for this exclusion, the payment must be made directly to the provider, and it must be...