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The Basics of Fiduciary Income Taxation

The Basics of Fiduciary Income Taxation

The Basics of Fiduciary Income Taxation by ACTEC Fellows Farhad Aghdami and Lora G. Davis  What is fiduciary income tax? How is it different from estate tax? When do you need to file a fiduciary income tax return (Form 1041? When do beneficiaries need to report the...
What is Portability for Estate and Gift Tax?

What is Portability for Estate and Gift Tax?

What is Portability for Estate and Gift Tax? by ACTEC Fellows Jean Gordon Carter and Stephen W. Murphy ​ What is portability and how does it affect the estate and gift tax exemption? Federal gift and estate taxes have implications at death and the surviving spouse has...

Common Ways to Title Your Home

Common Ways to Title Your Home by ACTEC Fellows Chang H. Chae and Shaheen I. Imami Understand your options when deciding how to title your home. There are several options: Tenancy by the Entirety (TBE), Joint Tenants with Rights of Survivorship (JTWROS), Tenancy in...
Owning Property and Titling Assets

Owning Property and Titling Assets

Owning Property and Titling Assets by ACTEC Fellows Stephanie Perry and Akane R. Suzuki An overview of the various ways assets, such as a home, can be titled to reflect the legal ownership of the property. There are a number of ways real estate can be titled: joint...
Gift Tax Exemption

Gift Tax Exemption

Gift Tax Exemption by ACTEC Fellows Jean G. Carter and Larry H. Rocamora The lifetime gift tax exemption amount is $11.58 million in 2020, increasing to $11.7 million in 2021. It is important to know about timing on using the estate tax exemption. The exemption is...