On Jan. 1, 2026, the federal basic exclusion amount (the amount an individual can pass free of transfer tax during life and upon death) decreases to roughly half of what it is today.
The adjustment in basis is a crucial tax consideration–what can it mean for you?
Knowing the tax rules can help you pass on more of your money to your loved ones while minimizing taxes.
President Joe Biden is proposing a series of tax increases on investors and top-earning Americans in his annual budget request to Congress.
Federal estate taxes were created in 1916, taxing estates valued at over $5 million. This amount changed to $50 million in 1932. In 1940, it dropped to $10 million, then $5, then $3. In 2002-2007 estates worth more than $2 million paid the tax.