Thursday, January 7, 2016

2016 Gift Taxes

By Jeff Ammons

The annual amount of gifts made by individuals in 2016 that are exempt from federal estate and gift tax remains at $14,000. A married couple can give $28,000 in the calendar year without such gifts counting against their respective lifetime federal esate and gift tax exemptions.

For more information on giving while avoiding potential estate and gift taxes, please contact Jeff Ammons in our Troy, Mich. office at 313-223-3122.