End of Year Tax Tips
We are rapidly approaching 2014 and as we close out this year it is a good time to remember the Gift Tax Exclusions. For 2013 the annual gift tax exclusion per recipient went up to $14,000.00 from a $13,000.00 limit in 2012. This gets far more complicated when considering lifetime gift amounts.
In addition, the I.R.S. has recently issued guidance on in-plan Roth Individual Retirement Account rollovers. Be sure to know what can be done.
Be clear on the laws and if you have any questions feel free to contact me at 310-276-3550 or robert@roberthousman.com
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