Many people dream of retiring to another state to take advantage of warm weather or to be close to loved ones. Before you call the moving truck, consider the impact of state and local taxes.
Because of the high exemption under the TCJA, few Americans have to worry about facing federal gift and estate tax liability in the next several years. But no matter your current net worth, it’s still important to be tax-smart when making lifetime gifts.
Your estate plan may need a tax update in light of the Tax Cuts and Jobs Act, even if your estate is well under the new $11.18 million estate tax exemption.