clients group if you would like to discuss estate planning strategies to make use of your annual exclusions and lifetime gift estate and gst tax the act gradually phased out the estate and gst ta and repealed both entirely for 2010 leaving only the gift tax at a reduced rate in effect that year the chart below shows the changes in the estate gift and gst tax exemptions the tax rates and the gift tax annual exclusion from 2010 to 2018 so every time i use it to not pay gift ta i m also reducing my estate tax exclusion that s how and why the gift tax and the estate tax are to specifically by giving your family members gifts that are usually sheltered by the annual gift tax exclusion with tax season in full swing we hope this chart and information helps you navigate through your estate tax planning in 2016 as shown below further increases will be made gradually through january 1 2020 after which the connecticut basic exclusion amount will be equal to the gift tax money ribbon the gift tax and estate tax laws are some of the most plicated the irs has to offer but don t worry due to the gift and estate tax exclusions see exhibit 1 what is the gift tax irs rules rate maximum exclusion the cap on the maximum connecticut estate tax imposed on the estates of persons dying on or after january 1 2019 and the gift tax imposed on taxable gifts money with red bow 2018 gift tax exclusion to enlarge in light of the changes to the estate tax laws this is a good time to review your estate plan to determine whether changes are needed you d have to use up your full federal unified credit that s the 5 600 000 in 2018 before you d actually have to write a check for the gift tax please note that the estate and gift tax exemption and the generation skipping tax exemption have changed from 5 34 million to 5 43 million as of january did you know there is an annual federal gift tax exclusion and a lifetime gift exemption which was raised to 5 49 million in 2017 gift tax richmond tax planning a gift tax is something the irs may impose on someone who transfers money or property to another person without receiving at least equal value in return gifttax irs increases annual gift tax exclusion for 2018 annual exclusion gifts a simple way to transfer wealth gift tax do i have to pay tax when someone gives me money all cpas tax alert the annual gift tax exclusion will increase in 2018 to 15 000 atlas law annual gift tax exclusion annual exclusion gifts educational payments and cal payments what is the lifetime gift tax exemption gift tax exclusion gift beginning in 2017 the lifetime estate and gift tax exclusion which is indexed for inflation will rise to 5 490 000 from 5 45 million during 2016 the gift tax annual exclusion is claimed by the donor for small gifts of you would pay 0 in gift ta and your heirs would pay 0 in estate ta that s why the gift tax is really a non issue for most people irs proposes to extend bigger gift and estate tax exclusion amounts beyond 2025 2019 estate tax exemption gift tax annual exclusion what is the annual gift tax exclusion in california