gift tax annual exclusion

2018 ESTATE AND GIFT TAX UPDATE

The 2018 federal exemption against estate and gift taxes is $5,600,000 per person. The current federal estate tax rate 40% for estates that exceed the exemption amount. The federal gift tax annual exclusion increased to $15,000 per person per donor. This is a $1,000 increase to annual exclusion amount, which had been stuck at $14,000 …