Call Us : 312.642.0006

Tax, Audit, Firm and Regulatory News

A $14 Million Dollar Sunset: Plan For The Potential Gift Tax Reduction

In this webinar recorded on July 25, 2024, Tax Partner Steve Hueffner provides an overview of the potential sunsetting of the current $14 million dollar gift tax exemption reduction.  In the webinar Steve emphasizes the importance of wealth transfer planning, considering family goals, lifestyle, age, and asset mix. Various gifting methods are explored, including direct and indirect gifts, as well as concepts like Spousal Lifetime Access Trust (SLAT),  Irrevocable Grantor Trusts (IGTs), and Family Investment LLCs or Family Limited Partnerships. The reduction in exemptions could significantly impact a multitude of planning strategies in this area. 

If you have questions please reach out to your Topel Forman contact or contact us at info@topelforman.com

Related News Posts

Conservation easements: what they are and why the IRS is watching

Conservation easements: what they are and why the IRS is watching

Jul 21, 2026

Conservation easements have a legitimate place in tax and estate planning, but for years promoters have been packaging them into abusive investment schemes that have drawn IRS enforcement. If you’ve been approached with one of these arrangements, or if you’ve already participated in a prior year, the consequences of getting this wrong include disallowed deductions, steep penalties, and in serious cases, criminal prosecution. This article breaks down how legitimate easements work, what the abusive versions look like, and what steps to take if you have questions about your situation.

read more