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2. IRS Increases Gift and Estate Tax Exempt Limits - AOL

   www.aol.com/finance/irs-increases-gift-estate...

   Barring an extension or new legislation, the lifetime estate and gift tax exemption is due to revert to the pre-2017 Tax Cuts and Jobs Act level of $5.49 million at midnight on Dec. 31, 2025.

3. 2024 gift tax rate: What it is, how it works and who has to ...

   www.aol.com/finance/2024-gift-tax-rate-works...

   Instead, a gift is taxed only after you exceed your lifetime estate and gift exemption, which in 2024 is $13.61 million for individuals and $27.22 million for married couples.

4. I Want to Give My Daughter and Son-in-Law Some Money. Will I ...

   www.aol.com/want-money-daughter-son-law...

   Gift Tax Exemption. ... Gifts that exceed the annual exclusion count against your lifetime exemption limit, which rises to $13.61 million in 2024 from $12.92 million in 2023. Estate Planning Tips.

5. Gift tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Gift_tax_in_the_United_States

   The gift tax is a backstop to the United States estate tax. Without the gift tax, large estates could be reduced by simply giving the money away before death, thus escaping any potential estate tax. Gifts above the annual exemption amount act to reduce the lifetime gift tax exclusion. [14]

6. Estate tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Estate_tax_in_the_United...

   The fiscal year 2014 budget called for returning the estate tax exclusion, the generation-skipping transfer tax and the gift-tax exemption to the 2009 level, $3.5 million, in 2018. [45] The exemption amounts set by the Tax Cuts and Jobs Act of 2017 , $11,180,000 for 2018 and $11,400,000 for 2019 again have a sunset and will expire 12/31/2025

7. Gift tax - Wikipedia

   en.wikipedia.org/wiki/Gift_tax

   Payments as a means for support can be exempt from gift tax in the case of payments for room and board or higher education that is a legal obligation for children or other dependents. Payments made directly to a qualified medical care provider or academic institution on behalf of the donee are exempt from any gift tax as qualified transfers.

8. Taxes 2024: 3 Ways To Prepare Now So You Don’t Lose ... - AOL

   www.aol.com/finance/taxes-2024-3-ways-prepare...

   For high-net-worth individuals, the estate and gift tax exemptions need to be navigated carefully, especially now that these limitations are due to sunset at the end of 2025. See: Top 7 Countries ...

9. 4 Changes You Should Make to Your Spending Now That ... - AOL

   www.aol.com/4-changes-spending-now-trump...

   The estate and gift tax exemption will decrease to approximately $7 million per person, down from $13.61 million in 2024, if it isn’t renewed. This reduction could significantly impact estate ...