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gifting and taxes

What Should I Know About Gifting and Taxes?

POSTED ON: September 17, 2020 BY: Kyle Krull
Gifting can help you minimize the value of your estate. The federal estate tax exclusion amount is $11.58 million in 2020. This is an appealing number for those with large estates. Gifts in excess of this exclusion amount will taxed at 40 percent. This tax will be owed by April 15 of the following year. […]
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