At the Federal level, receiving a gift or inheritance has different implications if the donor is a US citizen or if the donor is a foreign person. US donor Currently, the exclusion for estates at the Federal level is $13,990,000 per individual and $19,000 for gifts in 2025. Case US donor 1: If the taxpayer
Cost Segregation is one of the big words use by tax gurus and tax strategists to potentially make you pay less taxes. Cost segregation is simply accelerating depreciation on real estate assets that are usually subject to 27.5 residential and 39 commercial to some items (parts of the building) at 5, 7 or 15 years
As communicated each year, the IRS has updated some of the deductions, tax exemptions, tax exclusions and other tax items based on inflation. In several media, this has been celebrated as the IRS increasing the threshold and in some cases creating clickbait headlines to attract readers, but the reality is that each fall the IRS
