Gift giving made easy – Annual exclusion reduces your taxable estate

Description

Abstract: How can a person reduce the size of his or her taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts and other sophisticated estate planning techniques. But one of the most effective methods is also the simplest: leveraging the $14,000 per person annual gift tax exclusion. This article explains the strategy and a sidebar details the benefits of year-end gift giving using the annual exclusion.