2025 Estate Planning Update
Estate Tax Update FEDERAL ESTATE TAX, GIFT TAX, AND GENERATION-SKIPPING TAX EXEMPTIONS The 2025 federal exemption against estate and gift taxes is $13,990,000 per person. This is an increase over the 2024 exemption, which was $13,610,000 per person (the increase reflects an inflation adjustment). Unless Congress takes action, the exemption is expected to drop by […]
2024 Estate Planning Update
Estate Tax Update Federal Estate Tax, Gift Tax and Generation-Skipping Tax Exemptions The 2024 federal exemption against estate and gift taxes is $13,610,000 per person. This is an increase over the 2023 exemption, which was $12,920,000 per person (the increase reflects an inflation adjustment). The exemption is expected to drop by 50% at the end […]
2023 Estate Planning Update
Estate Tax Update Federal Estate Tax, Gift Tax and Generation-Skipping Tax Exemptions The 2023 federal exemption against estate and gift taxes is $12,920,000 per person. This is an increase over the 2022 exemption, which was $12,060,000 per person (the increase reflects an inflation adjustment). The exemption is expected to drop by 50% at the end […]
2020 Employment Update
Below are just a few of the most common Employment Law topics we are tracking and frequently speaking to our clients. Want to learn more? Contact one of our Employment Attorneys Paid Family and Medical Leave Act has Officially Launched As of January 1, 2020, most employees in Washington will be eligible to use their […]
2020 Estate Planning Update
Estate Tax Update Federal Estate Tax, Gift Tax and Generation-Skipping Tax Exemptions The 2020 federal exemption against estate and gift taxes is $11,580,000 per person. This is an increase over the 2019 exemption, which was $11,400,000 per person (the increase reflects an inflation adjustment). The exemption is expected to drop by 50% at the end […]
2019 Estate Planning Update
Estate Tax Update Federal Estate Tax, Gift Tax and Generation-Skipping Tax Exemptions The 2019 federal exemption against estate and gift taxes is $11,400,000 per person. This is an increase over the 2018 exemption, which was $11,180,000 per person (the increase reflects an inflation adjustment). The exemption is expected to drop by 50% at the end […]
2018 Employment Update
Below are just a few of the most common Employment Law topics we are tracking and frequently speaking to our clients about. Want to learn more? Contact one of our Employment Attorneys FLSA Overtime Rule Status Employers breathed a collective sigh of relief when a US District Court in Texas imposed an injunction on the […]
Employers / Employees and the 2017 Tax Act
On December 20, 2017, President Trump signed the Tax Cuts and Jobs Act of 2017 (“Tax Act”), ushering in an extensive array of new tax laws. Among them were changes that affect employers and employees: Changes to Employee Benefits Employer Deduction for Qualified Transportation Fringe Benefits. Prior to the Tax Act, an employer could deduct […]
Real Estate and the 2017 Tax Act
On December 20, 2017, President Trump signed the Tax Cuts and Jobs Act of 2017 (“Tax Act”), ushering in an extensive array of new tax laws. Among them were some fundamental changes that affect primary residence homeowners as well as owners of investment real estate. Primary Residence Homeowners Mortgage Interest Deduction. Prior to 2018, individuals […]
Alimony and the 2017 Tax Act
On December 20, 2017, President Trump signed the Tax Cuts and Jobs Act of 2017 (“Tax Act”), ushering in an extensive array of new tax laws. Among them were some fundamental changes to the characterization and treatment of alimony. General Rule and Effective Dates Until January 1, 2019. Currently, and until January 1, 2019, the […]