IRS Announces 2016 Estate And Gift Tax Limits: The $10.9 Million Tax Break
Ashlea Ebeling, Forbes Staff It’s official—for 2016, the estate and gift tax exemption is $5.45 million per individual, up from $5.43 million in 2015. That means an individual can leave $5.45 million to heirs and pay no federal estate or gift tax. A married couple will be able to shield $10.9 million from federal estate and gift taxes. The annual gift exclusion remains the same at $14,000. The federal estate and gift tax exemptions rise with inflation, and the IRS announced the new numbers here. We cover the 2016 retirement plan contribution limits…continue reading →
