“Estate & Gift Tax
1. Estate and Gift Tax Exemption increases from $5,250,000 to $5,340,000, tax rate: 40% (excess over $5,340,000)
2. Gift Tax Exclusion: $14,000 per donee
3. Up to $1,090,000 of farm or business realty can receive discount estate valuation
4. Estate Tax Deferral (Installments)
If one or more closely-held businesses make up greater than 35% of an estate, as much as $580,000 of tax can be deferred, and the IRS will charge 2% interest (15 year tax deferral)
Pensions/Retirement Plans (2014)
1. Pay-in limitation for defined contribution plans increase to $52,000 (based on up to $260,000 in salary), which is a $1,000 increase (for profit-sharing plans, KEOGH plans, et al)
2. Benefit limit for Defined Pension Benefit Plans is $210,000.
3. 401(K) limit remains $17,500
Social Security
Social Security wage base increases in 2014 to $117,000 (up $3300 from 2013 cap). The tax rate imposed on employers and employees remains 6.2% and the employer share of Medicare tax stays at 1.45%. The employee’s share is 1.45%, but the 0.9% Medicare surtax kicks in for singles with wages exceeding $200,000 and couples earning over $250,000.”
Download this white paper to continue reading …
Our author, Gary S. Wolfe, has more than 34 years of experience, specializing in IRS Tax Audits and International Tax Planning/Tax Compliance, and International Asset Protection.
Agenda
Faculty
Gary S. Wolfe
The Wolfe Law Group
Our author, Gary S. Wolfe, has more than 34 years of experience, specializing in IRS Tax Audits and International Tax Planning/Tax Compliance, and International Asset Protection.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- Live Webinars
- OnDemand Webinars
- MP3 Downloads
- Course Manuals
- Audio Recordings*
- Executive Reports
- White Papers and Articles
- Sponsored Live Webinars
Additional benefits include:
- State Specific Credit Tracker
- Members Only Newsletter
- All-Access Pass Course Concierge
* For audio recordings you only pay shipping
Questions? Call 877-296-2169 to speak with a real person.
Thank You!
Download White PaperMore Program Information
Access to all training products $699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
