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Gift Tax Changes in 2010 and 2011

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12/17/2010 – with the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Gift Tax law is updated as follows:  35% maximum tax rate, and $5,000,000 lifetime exclusion.  This is simply an extension of the 2010 rate into the future, with the exemption being unified with the Estate Tax exemption and indexed to inflation.

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 Jim Blankenship, CFP®, EA, is an expert in personal retirement, IRAs, and tax issues, with more than 25 years of experience in the industry. Read more from this author


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