Proposition 19 Restricts Parent-Child Transfer of Low Property Tax Rates
As I’m sure all of you are all too aware, we just had a significant election on many levels. I’ll leave national commentary for others. For homeowners in California, though, Proposition 19 is making big changes…
On December 22, 2017, President Trump signed a bill that makes huge changes to the American tax system—including the estate and gift tax. As of 2018, individuals can give away up to $11.2 million free of estate and gift tax, and couples can combine that to give away up to $22.4 million!…
In today’s cautionary tale, Forbes published an article this week describing a case requesting $1.2 million refund on a bill from the IRS for penalties and interest resulting from the executor’s failure to file an estate tax return and pay taxes on time.
The facts are messy,…
