estate tax

Old strategy helped by tax law changes

Changes in tax law have brought an old strategy back for taxpayers in North Carolina and across the country. It allows taxpayers to save taxes on appreciated assets. The renewed interest in the strategy comes from an increase in the number of tax exemptions that went...

Planning ahead for estate taxes

There are some unique tax considerations to keep in mind when an estate owner in North Carolina passes away. In most cases, an executor or personal representative is named in the will. When one does not exist, they can be appointed by the probate court. This person is...

What to know about federal estate tax laws

Those living in North Carolina or any other state have the right to gift up to $11.18 million without any estate tax implication. The exemption amount was increased from around $5 million as per the Tax Cuts and Jobs Act (TCJA). However, the exemption is planned to...

Tips for reducing estate tax

Some North Carolina residents may need to employ some strategies to reduce what their estate will owe in taxes. The current federal exemption is nearly $11.2 million, but for estates worth more than that, there are additional options. People can give away $15,000 per...

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