1. Retirement Plan Limits

    How Much Money Can I Put into My IRA or Employer-Sponsored Retirement Plan? IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government. The limits are periodically adjusted to compensate for inflation and increases in the cost of living. IRAs For the 2015 tax year, you can contribute up to $5,500 to […]

  2. Gift Tax

    What Is the Gift Tax? The federal gift tax applies to gifts of property or money while the donor is living. The federal estate tax, on the other hand, applies to property conveyed to others (with the exception of a spouse) after a person’s death. The gift tax applies only to the donor. The recipient […]

  3. Estate Tax

    What Is the Estate Tax? The estate tax is a tax on property that transfers to others upon your death. Estate taxes are assessed on the total value of your estate — your home, stocks, bonds, life insurance, and other assets of value — that is over the applicable exemption amount. Everything you own, whatever […]

  4. Capital Gain Tax

    What Is the Capital Gain Tax? Capital gains are the profits realized from the sale of capital assets such as stocks, bonds, and property. The capital gain tax is triggered only when an asset is sold, not while the asset is held by an investor. However, mutual fund investors could be charged capital gains on […]