Recent NJ tax changes – does it impact me?
We all know that the NJ gas tax increased $.23 per gallon on November 1, 2016. The law also may impact future estate taxes.
Charitable gift annuity rates remain very attractive
Rates for charitable gift annuities (CGAs) continue to be attractive (higher than you can receive from a typical money market or savings account). You can utilize the gift calculator to find the current annuity rates. Or, to learn about rates specific to you – please contact us directly.
What is the current status of federal estate laws?
Estate laws have finally stabilized. The IRS only taxes those estates which exceed $5,430,000.00. The estate tax rate is 40% of a taxable estate.
While the Federal Government does not tax the majority of estates, various states maintain inheritance taxes at much lower rates ($675,000 in NJ). Note this does not include leaving everything to your spouse. Check with your advisor about inheritance taxes where you live. Not having a will could mean the State determines how your estate will be distributed, regardless of how much or little you own.
IRA tax free giving
The chance to donate up to $100,000 from IRA has been renewed! Continue Reading