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Posted On: 01/31/2021 5:21:06 PM
Post# of 86978
As far as gifts to friends and family go, keep in mind that the lifetime U.S. federal estate/gift exemption is currently at $11.7 million for singles (and double that amount for married couples).
However, Biden is planning to drop the lifetime exemption to previous levels ($3.5 million).
So if this is changed for 2022, then 2021 will be the year for giving away big money to friends and family, -if that is your plan.
However, Biden is planning to drop the lifetime exemption to previous levels ($3.5 million).
So if this is changed for 2022, then 2021 will be the year for giving away big money to friends and family, -if that is your plan.
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