The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for October 2017. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.
Here are the rates for October 2017:
|
|
Annual |
Semiannual |
Quarterly |
Monthly |
|
Short-term |
1.27% |
1.27% |
1.27% |
1.27% |
|
Mid-term |
1.85% |
1.84% |
1.84% |
Bloomberg BNA has released its U.S. tax rate projections for 2018, which can be found here.
There are two very important changes expected that will impact estate planning in the coming year. BNA is projecting that the annual gift tax exclusion will rise from $14,000 to $15,000. This means individuals and married couples will
The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for September 2017. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.
Here are the rates for September 2017:
|
|
Annual |
Semiannual |
Quarterly |
Monthly |
|
Short-term |
1.29% |
1.29% |
1.29% |
1.29% |
|
Mid-term |
1.94% |
1.93% |
1.93% |
On July 14, 2017, Missouri Gov. Eric Greitens vetoed legislation that included a number of provisions related to estates and trusts.
Among the casualties of the veto were several provisions regarding estate and trust matters, the most significant being the Missouri Fiduciary Access to Digital Assets Act. Under this act, a user would be allowed
The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for August 2017. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.
Here are the rates for August 2017:
|
|
Annual |
Semiannual |
Quarterly |
Monthly |
|
Short-term |
1.29% |
1.29% |
1.29% |
1.29% |
|
Mid-term |
1.95% |
1.94% |
1.94% |
Many people may think they have the option to leave their spouse nothing when they die, but almost every state has what is commonly called an “elective share” statute. These statutes work to protect a surviving spouse from being cut out of a deceased spouse’s estate plan, permitting the disinherited spouse to elect to take
The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for July 2017. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.
Here are the rates for July 2017:
|
|
Annual |
Semiannual |
Quarterly |
Monthly |
|
Short-term |
1.22% |
1.22% |
1.22% |
1.22% |
|
Mid-term |
1.89% |
1.88% |
1.88% |
Have you ever donated money to a good cause, such as emergency health care for an injured person or assistance for someone who has unexpectedly lost a loved one? Have you used a website such as GoFundMe to make your donation? Or even better, have you created, or considered creating, a campaign on such a
On May 23, 2017, the Trump administration released its fiscal year 2018 budget, titled “A New Foundation for American Greatness.” In it, the administration provides another glimpse at its intentions regarding the future of the estate tax.
In the section titled “How to Make Things Right: New Policies for Jobs and Growth and New Spending
The Internal Revenue Service has released the Applicable Federal Rates (AFRs) for June 2017. AFRs are published monthly and represent the minimum interest rates that should be charged for family loans to avoid tax complications.
Here are the rates for June 2017:
|
|
Annual |
Semiannual |
Quarterly |
Monthly |
|
Short-term |
1.18% |
1.18% |
1.18% |
1.18% |
|
Mid-term |
1.96% |
1.95% |
1.95% |