Taxes

Last Minute Tax Tips to Reduce Your 2017 Tax Bill [Updated]

last minute tax tips

We are almost to the end of 2017, and this year we may have some much bigger changes coming our way in 2018 than in a typical tax year. For that reason, you may want to pay close attention to this post. The reason we have so many changes coming is that Trump’s Tax Reform is finally upon us. There are a lot of changes coming down the pipeline in 2018 and 2019, so you may want to take some proactive measures before the end of this year to maximize your savings. Let’s start with the current state of the […]

What is the Gift Tax in NC?

Gift tax in NC

You came to this page looking for information on the gift tax in NC, and more specifically, you probably want to know some answers to the following questions: What is the Gift Tax in NC? How much money can you gift away without having to pay a gift tax? How much money or property can you give away during your lifetime? So let’s dig in and start with some of the basics… What is the Gift Tax in North Carolina? At its basic level, the gift tax in NC is a tax on the transfer of assets from one person […]

Estate Taxes in North Carolina – Should You Worry?

estate taxes

Today I wanted to talk a little about estate taxes in North Carolina. This includes some discussion of what estate taxes are, why you shouldn’t care, and why the repeal of the estate tax is such a bad idea. Interested in learning more about gift taxes? Check out this article I wrote yesterday on the topic. What Are Estate Taxes? An estate tax is a tax imposed on the estate of a decedent upon their passing. At the Federal level, there is currently (as of 2017) a $5.49 million exemption. That means that your estate would have to be worth […]