Important Dates to Be Aware of in 2023

The new year brings with it important dates that may impact your financial situations and tax deadlines you may need to meet. March 6, 2023, is the deadline under the sixty-five-day rule for trust distributions. Under Internal Revenue Code (I.R.C.) § 663(b), distributions made to beneficiaries of nongrantor trusts (and estates) made within sixty-five days of […]

Tax Season Is Just around the Corner

For everything there is a season, and it will soon be the season for taxes. Although it always seems to arrive too quickly, you will start to receive important tax documents by January 31. Whether you are filing as an individual or administering an estate or trust, you should start to prepare for tax day, April […]

The Rundown on Estate and Gift Tax Exemption Amounts

Both the annual gift tax exclusion and the lifetime gift and estate tax exclusion amounts are adjusted for inflation each year, so when the rate of inflation is higher, the increases in these amounts are also greater. Now is a great time to take advantage of these tax saving opportunities. Annual Gift Tax Exclusion Individuals […]