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In recent years, the federal estate and gift tax exemptions have been steadily increasing. The Tax Cuts and Jobs Act of 2017 supercharged this trend and essentially doubled the exemptions. Now, a married couple can shelter more than $22 million from the federal estate tax.
But, under the new law, the estate tax changes are only temporary. The changes are scheduled to expire in 2026.
Many people will now need to revisit their estate plan to change the focus from estate tax planning to reducing…
Columbus Business News - Local Columbus News | Business First of Columbus
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Tax Reform cuts but does not kill the death tax