Tuesday, January 28, 2014

Quick Overview of 2014 Federal Estate and Gift Tax Amounts

The federal estate tax exemption amount is $5,000,000 and is adjusted annually for inflation. This year the exemption amount increases to $5.34 million. This means that a married couple can protect up to $10.68 million. The estate tax rate is 40%.

The annual exclusion from gift taxes will remain at $14,000 for 2014.

42 comments:

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Studying Law said...

Great post! Been reading a lot about tax law. Thanks for the info here!

Estate Law said...

Great post! Been reading a lot about estate taxes recently. Thanks for laying out this info here!

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Unknown said...

Thanks for sharing this overview regarding gift tax amount. As Henderson probate attorney, we should be updated regarding this matter.

Unknown said...

I had no idea that the estate tax went up every year. IT is crazy to thing that it is rising over five million dollars this year. How would this affect someones estate planning?

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Unknown said...

It is good to learn a little more about estate intricacies like this. You really have to know what you are doing when it comes to handling estates. The paperwork alone can be a real nightmare.

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Unknown said...

I wonder what the rational for $5 million was. An estate lawyer has to keep abreast of every whim of legislature these days. At least they are trying to keep up with inflation.

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Unknown said...

This very useful information. I am in the process of establishing my estate plans. I own a large home, but its value is under the $5,000,000 limit. Since the gift limit is $14,000, I will have to look into alternative methods for passing my money down.

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Mike Lintro said...

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