End-of-Year Tax-Free Gifting
Although the estate and gift tax exemption for 2020 is $11.58 million per person (resulting in a married couple’s ability to pass $23.16 million tax-free), this is only temporary. The exemption will automatically revert to $5 million (adjusted for inflation) in 2026 if Congress doesn’t make any changes before then. The likelihood that no changes will be made by then [...]