Wolters Kluwer Tax & Accounting has released its anticipated numbers for the 2016 estate and gift tax exclusions based upon inflationary trends. In 2016 the estate tax exclusion is expected to be $5.45 million for an individual and $10.9 for a married couple. The annual, as opposed to lifetime, gift tax exclusion for 2016 is expected to be $14,000 which remains the same with the last step up occurring in 2014 when the exclusion rose from $13,000. These two numbers are incredibly important in the estate planning community and should be taken into account when preparing for the next year.
See Ashlea Ebeling, The 2016 Projections For Estate And Gift Tax Limits, Forbes, September 18, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
