Updated 2016 Transfer Tax Numbers!

The inflation adjustments for 2016 numbers are as follows: 1. Exclusion amount for gifts and estates of decedents dying in 2016- $5,450,000 2. Generation Skipping Transfer Tax exemption- $5,450,000 3. Annual exclusion for gift tax- $14,000 4. Annual exclusion for gifts to non citizen spouses- $148,000 5. Special use valuation…

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Be Careful With Investments In Your IRA!

For many individuals, most of their wealth is in their individual retirement account (“IRA”) and the IRA can provide a great source of cash for investments such as real estate. However, the IRA owner has to beware of Section 408(e)(2) and Section 4975 of the Internal Revenue Code (the “Code”),…

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