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Showing posts from April, 2021

A Seller's market (But nothing new here) - Brooklyn Weekly Market Update - April 19, 2021

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Gangbuster Market!! - Weekly Manhattan Market Update - April 9, 2021

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Economic TrendSpotter: HOW CHANGES TO THE GIFT TAX EXCLUSION MAY IMPACT YOU by Tony Jao

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  HOW CHANGES TO THE GIFT TAX EXCLUSION MAY IMPACT YOU $15,000 Annual Exclusion The federal government gives each of us an allowance to gift anybody $15,000 per year without incurring any gift tax. This $15,000/year replenishes every year, and it’s $15,000 per person. So, theoretically, I could gift every person that I know $15,000 today, and then another $15,000 next year and the year after, and there would be NO gift tax.  The annual gift tax exclusion limit is $15,000 in 2021 (no change from 2020). $11,700,000 Lifetime Exclusion What most people don’t realize, is that there’s a second allowance of $11.7mm! In other words, let’s say that I want to give you $115,000. That’s $100,000 more than what I can give you out of my $15,000 annual bucket. That’s not a problem at all because I also have the $11,700,000 bucket. The $11.7mm bucket is called my “Lifetime Exclusion.” If I use any of it during my lifetime, I simply reduce my estate tax exclusion by that amount. So, in our example, if

ON FIRE!!!! -- Weekly Manhattan Market Update - April 2, 2021

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