Posts Tagged ‘gift’

New IRS Tax Laws Increase Many Trusts' Tax Bills

We recently discussed changes proposed in President Obama’s 2015 budget that would modify Estate and Gift Tax provisions established in the American Taxpayer Relief Act or ATRA, which was passed by Congress in 2013. The proposal, which would take effect in 2018, would restore the Estate, Gift, and Generation-Skipping Transfer (GST) tax rates and parameters…

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What Are Estate Tax Exemptions?

What is the Federal Gift Tax?

Two separate estate tax exemptions exist that could apply when leaving assets to family, a lifetime tax exemption and a generation-skipping exemption. Lifetime Tax Exemptions The exemption most typically applied is called the Lifetime Tax Exemption, where each individual has a certain amount of federal tax exemption that they can leave to their heirs, usually a…

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EPS Foundation gets $316000 gift from Davis Trust

The Ray Davis Family Trust has pledged the single largest gift in the history of Enid Public School Foundation. The Kevin and Vicki Davis Scholarship Program, created in honor of Enid businessman Ray Davis' late children, is expected to amount to $316 … Read more: EPS Foundation gets $316,000 gift from Davis Trust

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