2022 FIDUCIARY INCOME TAX – Updated Rates and Brackets
2022 Estate and Trust Income Brackets.
INCREASED ESTATE AND GIFT TAX EXEMPTION – couples can pass on more money tax-free in 2022.
The Federal estate and gift tax exemption is $12.06 million per individual for 2022, an increase from $11.7 million in 2021. The Federal gift tax annual exclusion has also increased to $16,000 per donee. The exclusion was $15,000 for 2018 – 2021. For more information, click here. Maryland does not impose a gift tax, which […]
DO I HAVE TO PAY THAT CLAIM AGAINST THE ESTATE? – maybe not!
Personal Representatives may find themselves facing questionable claims in the estate they are administering. Whether it is a claim for a Decedent’s unpaid credit card bill showing charges from months after her date of death, or a medical bill for a procedure the Decedent never underwent, it can be frustrating to determine whether a claim […]