Sentences with phrase «tax applicable exclusion»

Now that the gift and estate tax applicable exclusion is $ 5.25 million (adjusted for inflation), most people won't have to worry about paying gift tax.

Not exact matches

If you do not expect the value of your taxable estate to exceed the applicable exclusion amount, then federal gift and estate tax may not be a concern for you.

Exclusions include, but are not limited to, gift cards, special order merchandise, hunting and fishing licenses, and trailer licensing, registration and taxes in states where applicable.

Current federal law allows each citizen to transfer a certain amount of assets free of federal estate and gift taxes, named the «applicable exclusion amount.»

Your prior estate planning may have emphasized federal estate tax savings because of the much lower applicable exclusion amount and traditionally higher federal estate tax rates.

Portability rules allow a surviving spouse to take advantage of any unused portion of their spouse's applicable exclusion amount, provided that a federal estate tax return is filed to preserve the deceased spouse's unused applicable exclusion amount within 9 months (15 months if an extension is granted).

If you're a US citizen or permanent resident, tax treaties are generally not applicable to you (with very specific exclusions that without knowing the details we won't be able to address.

Conditions, limitations and exclusions apply when using Aeroplan Miles to cover applicable taxes, fees and surcharges.

An estate tax return is typically required only if the value of an individual's gross estate exceeds the applicable exclusion amount.

For example, if an estate transfers a $ 5.49 million unused applicable exclusion to a surviving spouse, who also has a $ 5.49 million basic exclusion amount, the surviving spouse then has a $ 10.98 million applicable exclusion amount to shelter property from gift and estate taxes (in 2017).

- Exclusions: Add - on items, out - of - stock items, Donations, Petco Gift Cards and eGift Cards; items shipped through white glove delivery or LTL delivery; orders exceeding the maximum weight limit of 300 lbs.; and applicable taxes.

Tour Price Exclusions Your tour cost does not include: air transportation (unless specifically stated as included), visa fees; any immunizations (If required); health certificates; airport taxes and country departure taxes (if applicable); all items of a personal nature; drinks, beverages and meals not specified; gratuity to tour escorts and driver guides; excess baggage charges; insurance; excursions not included on the itinerary; laundry; room service and any other items / services not listed on your confirmed itinerary.

Adjusted Operating Earnings represents GAAP net income adjusted for exclusion of, a) investment gains and losses, net of tax, b) dividends on participating life policies related to capital gains, c) equity base tax (release), d) a deferred tax benefit associated with a foreign subsidiary, and e) the inclusion of certain statutory interest maintenance reserve amortization, net of tax, with an offset for amortization of deferred acquisition costs where applicable.

For small estates, the amount of applicable exclusion ($ 2 million per person per estate), death taxes are not a significant consideration.