Families are often able to build up a substantial net worth through owning property, like a farm, or a small business.

The 2025 tax season got underway this week as the Internal Revenue Service began accepting 2024 tax returns. Those who are planning their 2025 tax strategy ...

The muni industry is trying to get to the bottom of questions around how the House arrived at savings estimates for ...

Additionally, since each individual may take advantage of this exclusion, a married couple may gift up to $38,000 to each donee per calendar year without using any estate or gift tax exemption.

The unlimited marital deduction means surviving spouses are typically exempt from federal estate ... Act of 2017 temporarily doubled the estate tax exclusion limit. Without congressional action ...

The generation-skipping trust tax exclusion is the same as the gift and estate tax lifetime exemption: $13.99 million for single taxpayers in tax year 2025 or $27.98 million for couples filing ...

Instead, they reduce the amount of money or property you can give away tax-free over the course of your lifetime. This lifetime limit is known as the basic exclusion amount or lifetime exemption ...