The Annual Gift Tax exclusion amount is increasing from $16,000 to $17,000 in 2023.   Today, Bruce and Jon explain the importance of this, and why these rules can have significant financial ramifications for years to come - not just for you, but for your heirs as well.

If you exceed the annual gift tax amount, you'll need to file a gift tax return - paperwork that will also need to be retained for quite some time.   But as long as you stay within these limits, you can whittle down the amount left to your heirs, potentially reducing or even eliminating estate taxes, depending on your individual situation.

Right now, the threshold for estate tax exemption is very high - nearly $26 million for a married couple.  But that rule is scheduled to sunset in 2025, likely returning to only $5 or $6 million.  

Bruce walks us through the different dollar limits, and what you can do now to protect yourself, your money, and your family.

For more information about anything related to your finances, contact Bruce Hosler and the team at Hosler Wealth Management: Visit them online at https://www.hoslerwm.com/

Or call them in their Prescott office at (928) 778-7666 or their Scottsdale office at (480) 994-7342.

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