. Cranberries; : the national cranberry magazine. Cranberries. larger estate than the other, the tax bill could end up higher. At the very least, the $600,000 exemption should be used. The estate won't pay tax on it anyway, so why not transfer at least that portion directly on to the next generation or to other heirs? Speaking of those heirs, the new tax law not only eases the problem of estate distributions; it also makes it less costly to make gifts while you are alive. Although many people ignored the law requiting the payment of a tax on any gift that exceeded $3,000, it was on the books a
. Cranberries; : the national cranberry magazine. Cranberries. larger estate than the other, the tax bill could end up higher. At the very least, the $600,000 exemption should be used. The estate won't pay tax on it anyway, so why not transfer at least that portion directly on to the next generation or to other heirs? Speaking of those heirs, the new tax law not only eases the problem of estate distributions; it also makes it less costly to make gifts while you are alive. Although many people ignored the law requiting the payment of a tax on any gift that exceeded $3,000, it was on the books and enforced. That rule allowed em annual $3,000 per donee exclusion from the gift tax. Or, a husband and wife could consent to split their gift so that a couple transfer up to $6,000 per donee each year free of tax. Surprisingly, this annusd exclusion has remained unchanged since it was enacted back in 1942. Even the Treasury has to admit that the purchasing power of a dollar has decreased to less than one-third of its 1942 value. Today the annual gift tax exclusion is $10,000 per donee. This will permit a husband and wife to consent to transfer up to $20,000 per donee each year without being subjected to the Pump Repairs All Types Sales Field Service & Shop 20 years experience AAA INDUSTRIAL PUMP SERVICE INC. 66 Lake St. Plympton MA 02367 Bruce Sunnerberg (617)585-2394 High volume trailer pumps 12 to 16 inch discharge 20 foot tongue PTO shaft with marine bearing 1060 3rd St. N. Wisconsin Rapids Wl 54494 8 (715)421-0917 Marsh Number (715)593-2285. Niemi Electric Co. ROBERT NIEMI ELECTRICAL CONTRACTORS HEAT, LIGHT and POWER WIRING • RESIDENTIAL • COMMERCIAL • INDUSTRIAL TEL. 295-1880 Robert Mcmi Pinehursl Please note that these images are extracted from scanned page images that may have been digitally enhanced for readability - coloration and appearance of these illustrations may not perfectly resemble the original Portland, CT [etc. ] : Taylor Pub. Co
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