According to the Tax Cut and Jobs Act, the federal tax exemption for 2022 is $12.06 million per person or $24.12 million for married couples. Any amount above that is subject to estate taxes that can be as high as 40%. In New York, the limit is much lower; any amount...
Tax Planning
Tax Planning
Tax considerations in New York estate planning
Estate planning in New York is a diverse, challenging, and delicate area of practice that you must take your time with because there are many factors at play when transferring property to your loved ones or a charitable organization. Among them, taxes are the main...