Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Daniel Povey, a professor who was fired by Johns Hopkins University, said he will no longer go work at Facebook after the company asked him to work as a contractor while it...Technologyread more
Markets would like Fed Chairman Jerome Powell to clarify whether the Fed sees itself at the beginning of a serious, longer-term rate cutting cycle.Market Insiderread more
In comparative terms, CEOs now make on average 278 times the average worker's salary, according to the Economic Policy Institute.Executive Compensationread more
The former cellmate's lawyer, Bruce Barket, told NBC that officials at the jailhouse said in an email that Tartaglione would face no charges or internal discipline now that...Politicsread more
Roger Stone and the Department of Justice have been sparring for a month over whether jurors can be shown a 4-minute-and-20-second clip from the film.Politicsread more
As part of his new proposal to combat hate and violence, O'Rourke wants to make social media companies liable for users' hateful content.Technologyread more
If you want to shave down your estate tax bill in the future, consider giving away some of your fortune.
The Tax Cuts and Jobs Act increased the gift and estate tax exemption to $11.18 million per person this year. That's more than double the $5.49 million per individual limit in 2017.
This means you can transfer more than $11 million, either as a gift while you're alive or as a bequest after death, without having the amount subjected to a 40 percent tax.
Be aware that, at least for now, the tax code's generosity is a limited-time deal. The $11.18 million estate and gift tax exemption is set to expire after the end of 2025, at which point it will revert to $5.49 million – unless Congress acts.
That means that, if you want to give away large sums of your wealth so that you shrink your estate and your tax bill, now is the time to do it.
To put things into perspective, the IRS received 12,711 estate tax returns in 2017. Of these, 4,191 were submitted for gross estates valued at more than $10 million.
Estate plans are not just for the rich and famous. Anyone with assets, including a home, 401(k) plan or savings account, should think about how those possessions will be distributed one day.
Aside from gifting, a trust can be a good way to hand money down. It has the added benefit of giving you more control over how your assets are made available to the next generation.
Others may opt to give the bulk of their estate away. In that case, consider setting up a charitable remainder trust, using a donor-advised fund or simply leaving a portion of your assets to a specified charity in your will.
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