The Internal Revenue Service (IRS) defines gift tax as the tax that is imposed on the ownership of a gifted asset. Here, the term “gift” is defined by the IRS is any transfer made to a recipient with no expectation of reimbursement. The taxable gift can be in the form of cash, real-estate, stocks, or any other tangible or intangible property.

Estate tax planning can be an overwhelming task in the beginning, especially if you don’t do well with tax jargons. But once you understand the trick of the trade, you are good for life. Read this article to know more about the 10 things that determine your taxable estate amount.

IRS issued the new official tax brackets, standard deductions, and other amounts like phaseouts and credits in March 2018. The GOP appears to have settled on a final tax bill. Below are the 2018 income tax rules that have substantial changes in the brackets, deductions, and exemptions. This data plays a key role in your tax planning for 2018 and the amended income tax return that needs to be filed.

People always dread that time of the year when they have to file their tax returns. This is because filing for tax returns is a tedious process, and people often end up making erroneous calculations. To prevent such fiascos from occurring, a majority of people hire professionals to help estimate their tax returns.

Debt securities are issued from time to time to finance certain types of capital expenditure. One such security is municipal bonds issued by a state, municipality, or county. A debt obligation arises after municipal bonds are issued for facilitating projects that are in the interest of the public. Popular examples of capital expenditure include the construction of highways, bridges, schools, and hospitals among other public interest projects.

To get the finances in order, it is necessary to have the tax planning for 2018 in order. It ensures that one makes all the right money moves next year. It is important to know how the federal tax reforms can be benefited. One must know how the new tax bill will impact them as the reforms may lead to some paying more and some paying less tax.