TAX SERVICES

Estate + Gift Tax Planning

Simply stated, the Estate Tax is a tax on your net worth (i.e., your estate) when you die. Under current law effective for tax years after 2012, the federal Estate Tax rate is now flat 40%, so planning to minimize this tax may be worth the effort. Because the Estate Tax is based on the value of your assets, the best way to reduce this tax is by transferring assets out of your estate before you die. The main way that this is accomplished is through gifts.