Planning ahead involves not only providing for yourself in retirement, but also taking care of your loved ones when you are no longer there. With so many changes in tax laws taking place in recent years, estate planning in New York and elsewhere is an involved process...
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Tax Planning
When will you owe taxes on money you gifted to a loved one?
Those of significant wealth in New York may be concerned that their estate will be subject to the federal estate tax upon their death. Currently, in 2021, if your estate is $11.7 million for a single taxpayer or double that for married couples who file jointly, your...