Tax Time: 15 Tax Moves for Right Now

From Financial Planning it’s Tax Time: 15 Tax Moves for Right Now a list that was actually 15, not just 10, and my pick was:

GIFT TILL IT HURTS

Tax preparers are always baffled when wealthy clients don’t take advantage of the full yearly gift-tax exclusion, which in 2013 climbs to $14,000 per recipient. Even with the gift exemption locked at $5 million, the gift-tax exclusion can help a high-net-worth client move even more assets out of an estate.

“A married couple with 10 grandchildren has the ability to gift $280,000 a year,” Benson says. “To be able to move almost $300,000 out of a wealthy couple’s estate every year can really chip away at the estate tax.”

Check out the full article and let me know if you got any new ideas from them.

 

 

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