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Form TP 584 21096Real Estate Transfer Tax Return for

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Form TP 584 21096Real Estate Transfer Tax Return for

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foreign [Music] Ty can play a role in your estate plan and here to talk with me about that is Philip hersberg from Team humans Bill welcome pleasure to be uh speaking with you Bob on this important topic as as always so uh kick us off where to begin so portability as you mentioned which was established as permanent in 2012 can play an integral role in helping you and your spouse avoid or reduce the state and income taxes and it's hard to believe that the Federal gift in estate tax exclusion as of 2022 is about 12 million dollars per individual or 24 million permarried couples and it's going to shoot up to in 2023 to 12.92 million per individual and 25.84 million for married couples so what made this mean to you well uh this is for individuals and families who have sizable wealth gives in excess of the exemptions are subject to the estate or gift tax at a 40 in rate so a married couple in 2022 should be able to collectively give 24 million or so during their life or at d

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