End-of-Year Tax-Free Gifting
Although the estate and gift tax exemption for 2023 is $12.92 million per person, meaning a married couple can pass $25.84 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. While there’s no way to know now what revisions (if any) will [...]