Tax Tip Tuesday: Inflation Adjusted Tax Changes for 2017

November 15, 2016

 

Here are some inflation adjusted tax changes for 2017.

 

Gifts Made and Estates of Decedents Dying Exclusion Amount

2017 —  $5,490,000

2016 —  $5,450,000

 

Gift Tax Annual Exclusion

2017 —  $14,000

2016 —  $14,000

 

Adoption of a Child with Special Needs Credit

2017 —  $13,570

2016 —  $13,460

 

Maximum Credit for Other Adoptions 

2017 —  $13, 570

2016 —  $13, 460

 

Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

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