Uncertain Future for Federal “Death Tax”

Posted · Add Comment

The IRS has released the annual inflation adjustment amounts and tax rate schedules that will apply in 2017. Included are the new gift and estate tax exclusion amounts for 2017. The new inflation adjusted numbers are available in Revenue Procedure 2016-55. They apply generally to transactions or events occurring in calendar year 2017. Estate and […]

IRS Announces Estate and Gift Tax Exclusions for 2016

Posted · Add Comment

The IRS has released the annual inflation adjustments and tax rate schedules that will apply in 2016. Included are the new gift and estate tax exclusion amounts for 2016. The new inflation adjusted numbers are available in Revenue Procedure 2015-53. They apply generally to transactions or events occurring in calendar year 2016 Estate and Gift […]

Common Pennsylvania Inheritance Tax Queries

Posted · Add Comment

Pennsylvania is one of a handful of states that imposes an inheritance tax on property that passes to beneficiaries when a resident passes. Most people are not familiar with Pennsylvania inheritance tax, because unlike income tax that needs to be addressed every year, Pennsylvania inheritance tax only comes into play when someone dies. Below are […]

Estate and Gift Tax Exemptions Increase in 2015

Posted · Add Comment

The IRS has released annual inflation adjustments and tax rate schedules for 2015. Included are the new gift and estate tax exclusion amounts for 2015.  The new inflation adjusted numbers are available in Revenue Procedure 2014-61, issued October 30, 2014.  Estate and Gift Tax Exclusion amounts for 2015 $5.43 million – Federal Estate Tax Basic […]

Federal and Pennsylvania Death Taxes Explained

Posted · Add Comment

Should you be worried about death  taxes? Many Pennsylvania seniors share similar financial and estate planning goals. We want to be sure that we have enough resources to provide for our needs during our lifetime. And we want to pass a little something – as much as possible really – on to our families after […]